9. Nolasco Corporation is considering a capital budgeting project that would require an initial investment of $420,000 and working capital of $38,000. The working capital would be released for use elsewhere at the end of the project in 4 years. The investment would generate annual cash inflows of $140,000 for the life of the project. At the end of the project, equipment that had been used in the project could be sold for $14,000. The company's discount rate is 8%. The net present value of the project is closest to:

a) $43,680

b) $53,970

c)$81,900

d) $43,900

Please explain the answer, formula step by step. If you have to use the chart please specify which chart you will use. Thank you