A project will produce an operating cash flow of $385,000 a year for three years. The initial cash outlay for equipment will be $850,000. The net aftertax salvage value of $50,000 will be received at the end of the project. The project requires $72,000 of net working capital up front that will be fully recovered. What is the net present value of the project if the required rate of return is 14 percent?

		$45,915.26
		$51,208.72
		$59,612.87
		$54,174.86
		$47,320.15