Assume that the taxes from operations facing the investor in our ongoing problem will be as follows in each of years one through five, respectively: 4,154 4,185 4,291 4,405 4,596. Also, assume that the ATER for this investor upon sale of the property at the end of the holding period is $83,337. What is the NPV facing this investor at a required return of 15%?

a. $123

b. $625

c. $6,235

d. $717