A firm is investing $9,000 in Project X with a cost of capital of 12%. The project is expected to produce the following cash flows over its three-year life:

Year Expected Cash flow for Project X

1 $4,000

2 $4,000

3 $3,000

13. Calculate the net present value (NPV) for Project X.

A. $8,896

B. $2,000

C. $1,458

D. $(104)