An agricultural accounting firm is considering leasing several new copy machines. Annual lease payments of $14,000 would be made at the end of each year, including the first. Annual operating expenses would be $3,000 each year. $18,000 in cash inflows each year would be attributed to the copiers. Given a cost of capital of 5%, what is the approximate net present value of this investment? (This is over the course of five years)

	a.	$3,877
	b.	-$3,877
	c.	-$4,329
	d.	$4,329