A 4 year project requires an initial investment of $150,000 that will generate an annual after-tax cash flow of $60,000. Company's target debt-to-equity ratio is 0.3. Management has also estimated that the cost of equity would be 14% and the cost of debt would be 10%. If the marginal tax rate is 21%, what is the NPV of the project?

Group of answer choices

$29,991

$30,338

$32,049