Below is information related to an investment being considered by Mu Corporation. Initial investment $90,000, 3 year life, no salvage value Project life 3 years Annual cash inflows (3 years) $35,000 Working capital $15,000 Cash inflows occur at the end of each of the three years. Working capital is required immediately and released back into the company at the end of the project . Assuming a discount rate of 8%, the net present value of the project is closest to: For individuals preferring to solve with tables as presented in the text, rather than using the Excel spreadsheet covered in class, present value factors for both $ and an annuity at 8% are provided belo W: PV of $1 @ 8% 1 0.926 PV of an annuity @ 8% 0.926 1.783 2 0.857 3 0.794 2.577 ($26,715) ($ 2,895) ($14,805) O ($11.715)