A project is expected to create operating cash flows of $32,500 a year for three years. The initial cost of the fixed assets is $67,000. These assets will be worthless at the end of the project. An additional $4,000 of net working capital will be required throughout the life of the project. What is the project's net present value if the required rate of return is 15 percent?

$9,834.88

$1,834.88

$5,834.88

$2,033.33

$3,204.82