A proposed project lasts three years and has an initial investment of $200,000. The after-tax cash flows are estimated at $74,970 for year 1, $149,460 for year 2, and $164,750 for year 3. The firm has a target debt/equity ratio of 1.25. The firm's cost of equity is 14.98% and its cost of debt is 10.18%. The tax rate is 34%. What is the NPV of this project?

	$110,206
	$113,032
	$115,858
	$118,684
	$121,510