Carland, Inc., has a project available with the following cash flows.

If the required return for the project is 7.8 percent, what is the project's NPV?

Year Cash Flow

0 $257,000

1 65,100

2 89,300

3 117,300

4 75,500

5 11,900

A) $14,175.31 B) $34,249.66 C) $26,075.31 D) $21,603.46 E) $17,900.96