4) You are considering a project that requires an initial investment of $115,000 with a cost of capital of 12%. You expect the project to have a five-year life, and produce cash flows of $19,000 in year 1, $36,000 in year 2, $64,000 in year 3, $32,000 in year 4 and $12,000 in year 5.

What is this projects net present value?

A) $ 6,129

B) $3,363

C) $4,172

D) $5,226