California Hideaways is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, would be depreciated by the straight-line method over its 3-year life, and would have zero salvage value. No new working capital would be required. Revenues and other operating costs are expected to be constant over the project's 3-year life. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.) WACC 10.0% Net investment cost (depreciable basis) $65,000 Straight-line depr'n rate 33.3333% Sales revenues, each year $60,000 Operating costs excl. depr'n, each year $25,000 Tax rate 35.0% a. $8,499 b. $8,946 c. $9,417 d. $9,913 e. $10,434