11-A company is considering a new project. The required equipment has a 3-year tax life, after which it will have zero salvage value, and it will be depreciated by the straight-line method over 3 years. The cost of this equipment is $70,000. The project will increase the firms revenue by $10,000 and decrease the operating costs by $7,500 per year over the project's 3-year life. The firm falls in 35% tax bracket. The cost of capital is 11%. What is the NPV of this project?

a) -15,097

b) -18,375

c) -19,542

d) -22,246

e) -17,208

NEED to see the work and formulas PLZ. Will rate! :)