A real estate investment is expected to return to its owner $3,500 per year for 16 years after expenses. At the end of year 16, the property is expected to be sold at $49,000. Assuming the required rate of return is 14% for investments with this degree of risk, what is the net present value of this property if the purchase price is $28,000 today?

Group of answer choices $-90 $27,210 $-51 $27,949