22. Puello Corporation has provided the following data concerning an investment project that it is considering:

Initial investment	$	480,000
Annual cash flow	$	145,000	per year

Refer to Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.

The life of the project is 4 years. The company's discount rate is 8%. The net present value of the project is closest to:

A) $480,000

B) $480,240

C) $100,000

D) $240