$2\mathrm{.}5$ pts

A company is considering a capital budgeting project that would require a mintial investment of $$350,000.$ The investment would generate annual cash infows of $$113,000$ for the life of the project, which is $4$ years. At the end of the project, equipment that thad been used in the project could be sold for $$32,000.$ The company's discount rate is $14\%$ The net present value of the project is closest to:

Present value factors:

Present value of $$1$ table: $4$ years $14\%=0\mathrm{.}592$

Present value of annuity table: $4$ years $14\%=2\mathrm{.}913$

$$37,429$

$$406,373$

$$214,000$

$$56,373$