Consider a project with the following cash flow stream:

Cash flow in year 0 = -$100,000 (i.e., an outflow of $100,000)

Cash flow in year 1 = $20,000

Cash flow in year 2 = $30,000

Cash flow in year 3 = $50,000

Cash flow in years 4 through infinity = $5000

What is the net present value (rounded to the nearest dollar) of this project if the project cost of capital is 12% p.a.?

a. $7,019

b. -$3,218

c. $8,593

d. -$22,638

e. None of the answers listed above is within $10 of the correct answer.