Chris is considering submitting a bit for the requested project, which involves building four houses per year for the next 3 years for a gated community. To complete such project, Chris would need to buy tools in the amount of $66,000, which would be completely depreciated over the projects lifespan assuming straight-line depreciation, and such tools can be sold for $40,000 at the end of the project. Net working capital would be $16,000 over the life span of the project. The projects variable cost would be $88,000 per house, and fixed cost would be $18,000 each year. The tax rate is 34% and Chris require rate of return is 14%. How much at minimum Chris should bid for each house? (Rounded to the nearest $500).

		A. $115,000
		B. $98,500
		C. $97,500
		D. $96,500
		E. $95,500