A proposed project lasts three years and has an initial investment of $200,000. The cash flows are estimated at $60,000 for year 1, $120,000 for year 2, and $135,000 for year 3. The firm has a target debt/equity ratio of 1.2. The firm's cost of equity is 9% and its cost of debt is 6%. The tax rate is 21%. What is the NPV of this project?

A) $38,723

B) $47,489

C) $58,362

D) $65,741

E) $72,901