15. Year 0 Year 1 Year 2 Year 3 Year 4 Revenues 120,000 400,000 400,000 300,000 Costs of Goods Sold -60 000 -200 000 -200 000 -150 000 Gross Profit 60,000 200,000 200,000 150,000 Selling, General and Admin -6,000 -6,000 -6,000 -6,000 Depreciation 40,000 40,000 40,000 30,000 EBIT -l6,000 124,000 124,000 ?4,000 Income tax 35% 5 600 -43 400 -43 400 -25 900 Net Income -10,400 80,600 30,600 48,100 Investment -280,000 A garage is installing a new "robot" car wash. It will promote the car wash as a fun activity for the family, and it is expected that the novelty of this approach will boost sales. The net working capital required is 5% of the change in annual sales and is incurred at the beginning of each year. If the cost of capital is 10%, what is the net present value of this project? A. -$214,525 B. -$ 146,283 C. -$1 13,584 D. $88,161 E. $87,731