Bruno's Lunch Counter is expanding and expects operating cash flows of $20,800 a year for 5 years as a result. This expansion requires $57,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $5,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 14 percent?

$14,408

$12,005

$15,609

$17,653

$16,724