Colorado Springs painter and graphic designer Steve Weed is investing $95,400 in assets to expand his fine art business. These assets cannot be salvaged at the end of the project. Weed expects operating cash flows of $30,100 per year for 6 years as a result of the expansion. If $7,400 of net working capital are needed throughout the life of the project, what is the NPV of the expansion? Note: Steve Weed faces a 12% cost of capital.

Multiple Choice $28,353 $24,702 $34,738 $30,716 $32,910