A company invests in a new project that requires an initial capital outlay of $1145389. The project will generate annual net cash flows of $206291 over a period of 11 years. The after-tax cost of capital is 8%. The residual value of the project is $63665.

What is the net present value of the project?

Select one:

a. $354620

b. $327315

c. $263650

d. $1187477