a sport center is considering adding a new golf course to its facilities. The course would cost $174,000, would be depreciated on a straight-line basis over its 4-year life, and would have a zero salvage value. The sales would be $91,600 a year, with variable costs of $27,750 and fixed costs of $12,350. In addition, the firm anticipates an additional $18,100 in revenue from its existing facilities if the putt putt course is added. The project will require $2,950 of net working capital, which is recoverable at the end of the project. What is the net present value of this project at a discount rate of 11 percent and a tax rate of 34 percent?

$16,342

$23,669

$56,578

$14,399

$13,392