Borealis Drilling is considering building a new manufacturing plant. The new plant will cost $15.7 million to construct. Management uses a discount rate of 8.8%. They anticipate the following cash flows for next seven years:

Year	Cash Flow
1	2.445m
2	2.830m
3	3.005m
4	3.250m
5	3.415m
6	3.590m
7	3.730m

The proposed project's net present value is closest to:

	A.	$61,700.
	B.	$37,965.
	C.	$56,710.