Gilmore Golf, Inc is considering producing and selling a new line of golf clubs. The clubs will sell for $690 per set and have a variable cost of $255 per set. The company has spent $250,000 for a marketing study that determined the company will sell 5,000 sets per year for 20 years. The marketing study also determined that the company will lose sales of 2,000 sets per year of its high-priced clubs, which currently sell for $1000 per set and have variable costs of $475. The fixed costs each year will be $150,000. The project will require a net working capital balance equal to 12% of sales of the new clubs, to be fully recouped at the end of the project. This must be put into the project NWC before the project begins. The plant and equipment required will cost $3,500,000 and will be depreciated on a straight-line basis to zero over the lifetime of the project. The company estimates it will be able to sell the plant and equipment in twenty years for 4% of its purchase price. The tax rate is 40% and the required return on the project is 14%. Find the NPV

Group of answer choices

$838,150.51

$460,385.85

$424,150.51

-$524,125.55