Gamma Corporation is considering an investment of $514,000 in a land development project. It will yield cash flows of $210,000 for 5 years. The company uses a discount rate of 9%. What is the net present value of the investment?

Resent value of annuity of $1:

8% 9% 10%

1 0.926 0.917 0.909

2 1.783 1.759 1.736

3 2.577 2.531 2.487

4 3.312 3.24 3.17

5 3.993 3.89 3.791

A) $339,240

B) $236,440

C) $210,000

D)$302,900