Canyon Buff Enterprise is considering drilling a new self sustaining oil well at a cost of $800,000. This well will produce $100,000 worth of oil during the first year, but as oil is removed from the well the amount of oil produced will decline by 2%, per year forever. If the interest rate is 8%, then the NPV of this oil well is closest to:

A. $250,000

B. -$250,000

C. $0

D. cannot be determined

E. $200,000