A proposed project requires an initial cost of $75,000 for equipment and an additional cash outflow of $20,000 in Year 1 to cover operating costs. During Years 2 through 4, the project will generate cash inflows of $50,000 a year. What is the Net Present Value of this project at a discount rate of 12%? $14,367.47 $9,385.06 $16,161.36 $50,081.75 $20.625.64