A project is expected to generate an annual cash flow of $3650 per year for 4 years. The project requires an initial investment of $15,000. After the four years are over, the project will close down and will generate a final cash flow of $7,500 (at the end of year 5). Determine the NPV of this project given the discount rate of 11.5%

Select one:

1. $608.18

2. $556.07

3. $533.23

4. $501.09

5. $487.82