1a. Weston Engineering has assigned a discount rate of 14 percent to a new project that has an initial cost of $290,000 and cash flows of $106,000, $142,000, and $187,000 for Years 1 to 3, respectively. What is the net present value of this project?

A. $40,178.27

B. $38,466.52

C. $36,429.53

D. $34,833.69

E. $32,947.30

1b. What is the IRR of this project?

A. 17.42%

B. 18.85%

C. 19.73%

D. 21.03%

E. 20.46%