Apex Company is thinking of starting a new manufacturing operation, and the key data are shown below. The company owns the building that would be used, and it could sell the building for $100,000 after taxes if it decides not to start the new operation. The building has been fully depreciated so it has a net book value of $0. Under the new tax law, the equipment used for the new project is eligible for 100% bonus depreciation, so it will be fully depreciated at t = 0. At the end of the projects life, the new equipment would have zero salvage value. No change in net operating working capital (NOWC) would be required for the project. Revenues and operating costs would be constant over the project's 3-year life. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.) Do not round the intermediate calculations and round the final answer to the nearest whole number. WACC 10.0% Sale value after taxes of building $100,000 Equipment cost) $65,000 Annual sales revenues $116,000 Annual operating costs $25,000 Tax rate 25.0%

Group of answer choices $34,900 $12,543 $20,978 $36,761 $18,450