A small aviation school is evaluating the merits of two independent projects - a fullmotion flight simulator, and an instrument device offering state-of-the-art nighttime flight guidance. Both projects are expected to have 5-year life cycles. The flight simulator has an initial cost of $150,000, and it is expected to generate net revenues of $40,000 per year for each of the next 5 years. The instrument device costs $85,000 today, and it has expected net revenues for the next 5 years of $20,000 per year. Within its financial evaluations, the aviation school uses a discount rate of 10% for all projects. Calculate the NPV for the flight simulator project. ($32,961)$1,631$50,000$151,631 None of the above