Ally Company is considering an investment project that will produce an operating cash flow of $281,000 a year for four years. The initial cost for equipment will be $697,000. The net aftertax salvage value of $39,000 will be received at the end of the project. The project requires $63,000 of net working capital from the beginning of the project that will be fully recovered when the project ends. What is the net present value of the project if the required rate of return is 13 percent?

$138,385

$146,823

$155,219

$164,517

$126,255