A project has an initial investment of $261,000 in fixed assets and $27,000 in net working capital. The fixed assets will be depreciated straight line to a salvage value of $78,000 over the 4-year life of the project. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $96,200 and the discount rate is 13%. What is the project's net present value if the tax rate is 35%? A. $55,347.44 $45,799.01 $62,542.61 $40,692.92 $40,530.09 B. C D E