Consolidated Industries is considering a 4- year project. The project is expected to generate operating cash flows of $2 million, $3, million, $6 million, and $3 million over the four years, respectively. It will require initial capital expenditures of $11 million dollars and an intitial investment in NWC of $4 million. The firm expects to generate a $9 million after tax salvage value from the sale of equipment when the project ends, and it expects to recover 100% of its nwc investments. Assuming the firm requires a return of 17.5% for projects of this risk level, what is the project's NPV?

919,268

880,562

948,297

967,650

899,915