Assume that management of Trayco has generated the following data about an investment project that has a fiveyear life:

Initial investment	$100,000
Additional investment in working capital	5,000
Cash flows before income taxes for years 1 through 5	30,000
Yearly depreciation for tax purposes	20,000
Terminal value of machine	0
Terminal value of additional working capital	5,000
Cost of capital	8%
Present value of $1 received after 5 years discounted at 8%	.681
Present value of an ordinary annuity of $1 for 5 years at 8%	3.993

Assume that Traycos marginal tax rate is 30% and all cash flows come at the end of the year. Calculate the net present value of the investment of the project.

Group of answer choices

$105,000

$ 3,585

$ 11,216

$ 6,216