A new project under consideration will have the following sales:

Year One $400,000

Year Two $500,000

Year Three $600,000

Operating Expenses (not including Depreciation) should be 65% of Sales. To launch the project the company will need to purchase a piece of machinery for $100,000; the machinery will be sold at the end of the three years for $10,000. Short-Term Investments will be 4% of the following time periods Sales. The Tax Rate is 20%. If the required return for the risks of this project is 14%, what is the Projects Net Present Value (to the nearest dollar)?

$249,658

$226,909

$233,658

$196,875

None of the above