201) A project will produce operating cash ows of $57,000 a year for 3 years. During the life of the project, inventory will be lowered by $10,000 and accounts receivable will increase by $20,001. Accounts payable will decrease by $5,001. The project requires the purchase of equipment at an initial cost of $90,001. The equipment will be salvaged at the end of the project creating a $17,000 after-tax cash inow. At the end of the project, net working capital will return to its normal level. What is the net present value of this project given a required return of 12%? A) $54,681.35 B) $48,772.08 C) $44,141.41 D) $56,209.19 E) $42,908.17