A project requires an initial investment of $200,000 and expects to produce gross operating income of $120,000 per year for two years. The corporate tax rate is 30%. The assets will depreciate using the MACRS - 3-year schedule: (t = 1,33%); (t = 2:45%): (t = 3: 15%); (t = 4:7%). The company's tax situation is such that it can use all applicable tax shields. The opportunity cost of capital is 12%. Assume that cash flows occur at the end of each year (i.e., at t = 1 and t - 2) and that the asset can sell for book value at the end of the project. Calculate the NPV of the project (approximately): $22,463 O $5,721 O $16,244 O $19,315