A Company is considering a new investment whose data are shown below. The equipment would be depreciated on a straight-line basis over the project's 3-year life, would have a zero salvage value, and would require additional net operating working capital that would be recovered at the end of the project's life. Revenues and other operating costs are expected to be constant over the project's life. What is the project's NPV?

Project Cost of Capital (r)	10.0%
Net Investment in Fixed Assets (Basis)	$65,000
Required Net Working Capital	$15,000
Straight-Line Depreciation Rate	33.333%
Sales Revenues, Each Year	$75,000
Operating Costs (Exclud. Depc.), Each Year	$25,000
Tax Rate	35.0%

A. $26,297

B. $23,852

C. $23.045

D. $30,950

E. $33,993