At the end of the project the equipment will be sold for an estimated $236,000 before tax. The project will not change sales but will reduce operating costs by $385,500 per year. The tax rate is 40 percent and the required return is 14.1 percent. The project will require $50,000 in net working capital, which will be recouped when the project ends. What is the projects NPV?

$156,350

$80,594

$88,898

$196,454

$149,552