Chasse & Jones Corporation is considering two projects but can only do one. Each need an initial investment of $20,000. Project DAmore has an expected life of 4 years and after-tax cash flows of $8,600 each year. Project McKim has an expected life of 2 years and after cash tax flows of $12,000 in year 1 and $15,800 in year 2. Additionally, Project McKim can be repeated, with no changes in cash flows at the end of the second year. Using the replacement chain approach, what is the total NPV of the better project? Weighted average cost of capital is 8%

a. $8,866 b. $8,650 c. $8,572 d. $8,492 e. $8,484 f. $8,009 g. $7,856.