Baxter Corporation is considering the purchase of a machine that costs $300,000. The project is expected to produce after-tax cash flows of $65,000 in the first year and increase by $10,000 annually; the after-tax cash flow in year 5 will reach $105,000. Liquidation of the equipment will net the firm $25,000 in cash at the end of five years. Assume the required return is 15%. What is the project's net present value? A $11,929 B $12,623 $13,853 D ($11,929)