Epiphany Industries is considering a new capital budgeting project that will last for three years. Epiphany plans on using a cost of capital of 12% to evaluate this project. Based on extensive research, it has prepared the following incremental cash flow projects: 0 1 3 Year Sales (Revenues) Cost of Goods Sold (50% of Sales) Depreciation = EBIT Taxes (20%) = unlevered net income + Depreciation + changes to working capital - capital expenditures 125,000 62,500 20,000 42,500 8,500 34,000 20,000 -5,000 2 125,000 62,500 20,000 42,500 8,500 34,000 20,000 -5,000 125,000 62,500 20,000 42,500 8,500 34,000 20,000 10,000 - - 90,000 The net present value (NPV) for Epiphany's Project is closest to: ..... A. $115,098 B. $19,183 C. $38,366 D. $76,732