A project has an initial requirement of $261,000 for fixed assets and $27.000 for net working capital. The fixed assets will be depreciated to a zero book value over the four-year life of the project and have an estimated salvage value of $78,000. All of the networking capital will be recouped at the end of the project. The annual operating cash flow is $96.200 and the discount rate is 12.75 percent. What is the project's net present value if the tw rate is 35 percent? O $44,018 O $45.333 $45,799 O $47,716 O $47.919 What is the net present value of a project that has an initial cost of $40,000 and produces cash inflows of $8.000 a year for 11 years if the discount rate is 14 percent? O $798.55 O $1.940.28 O $1,869.69 O $3,621 86 O $4,470.01