A firm is considering an investment project that will produce an operating cash flow of $157,000 at the end of each year for three years. The initial cash outlay for equipment will be $325,000. The equipment can be sold for $36,000 (before tax) at the end of the project. The project requires $35,500 of net working capital that will be fully recovered. The tax rate is 25%. What is the net present value of the project if the required rate of return is 14 percent? $56,407.83 $36,921.58 $41,630.85 $46,181.95 $51,036.75