An investment that costs $31,500 will produce annual cash flows of $10,510 for a period of 4 years. Given a desired rate of return of 8%, what will the investment generate? Use Appendix Table 2. (Do not round your intermediate calculations. Round your answer to the nearest whole dollar.)

a. A negative net present value of $3,310.

b. A negative net present value of $34,810.

c. A positive net present value of $3,310.

d. A positive net present value of $34,810.