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Lyndon Company has been offered a contract to build a bridge for the state of Michigan/ >/> The contract would expire in ten years. The projected cash flows that result from the contract are given below: Cost of equipment $500,000 Working capital needed $100,000 Net annual cash inflows $80,000 Salvage value of equipment in ten years $40,000 The company's required rate of return and discount rate is 12%. The working capital would be released at the end of project. What is the present value of the cost of the equipment? a. $446, 450 b. 5500,000 c. $(446, 450) d. $(500,000)