A firm has identified a project with the stream of cash flow appearing in the table below. All cash inflows (revenues) and outflows (expenses) are certain and the appropriate interest rate is 6%. ----------------------------------------------------------- Year Outflow Inflow ----------------------------------------------------------- 0 9000 0 1 0 0 2 0 7000 3 0 0 4 0 0 5 0 0 6 4000 0 7 0 12000 8 0 9000 ----------------------------------------------------------- What is the NPV of this project?

• A.

  $9645.04

• B.

  $5626.27

• C.

  $6430.02

• D.

  $8037.53