Daisy's Donuts is expanding its operations. This expansion requires $59,000 in new fixed assets, which are expected to be worthless at the end of the project. Daisy expects operating cash flows of $20,000 per year for 4 years as a result of the expansion. In addition, the project requires $4,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 8.5 percent?

		-$7,704
		-$3,808
		$5,398.23
		$10,903
		$12,577