. A project has an initial cash outlay of $29,500. Cash inflows are estimated at $1,200, $6,900, $7,800, $9,500, and $4,800 for years 1 through 5, respectively. What is the net present value of this project given a 7% discount rate?

a. -$5,677.15

b. -$5,314.82

c. -$2,618.03

d. $700.00

e. $1,806.33