Cash flow to the firm is provided below. In year 0, the firm incurred an operating expense of 100 for a marketing study related to the land which the project is going to utilize (this expense is not included in the reported cash flow). You need to decide how to treat it. What is the NPV? Discount rate is 10%. Tax rate is 20%.

Year	0	1	2	3	4
FCFF	-200	130	180	210	150

A) 327

B) -280

C) 247