Century Roofing is thinking of opening a new warehouse, and the key data are shown below. The company owns the building that would be used, and it could sell it for $100,000 after taxes if it decides not to open the new warehouse. The equipment for the project would be depreciated by the straight-line method over the project's 3-year life, after which it would be worth nothing and thus it would have a zero salvage value. No new working capital would be required, and revenues and other operating costs would be constant over the project's 3-year life. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.) Project cost of capital (r) 10.0% Opportunity cost $100,000 Net equipment cost (depreciable $65,000 basis) Straight-line depres. rate for 33.333% equipment Sales revenues, each year $123,000 Operating costs (excl. depres.), $25,000 each year Tax rate Q Q Q a. $26,796 b. $31,254 c. $29,691 d. $28,207 Q e. $32,817 25%