17. SheffieldCompany is considering two capital investment proposals. Estimates regarding each project are provided below:

	Project Soup	Project Nuts
Initial investment	$450000	$660000
Annual net income	30000	46000
Net annual cash inflow	110000	176000
Estimated useful life	5 years	6 years
Salvage value	0	0

The company requires a 10% rate of return on all new investments.

	Present Value of an Annuity of 1
Periods	9%	10%	11%	12%
5	3.89	3.791	3.696	3.605
6	4.486	4.355	4.231	4.111

The net present value for Project Nuts is

a) $106480.

b) $110000.

c) $766480.

d) $273536.