help please

Atwo-year project has the following annual cash ows: E Initial cost {400.000} 12 months later 300,000 24 months later 200,000 The cost of capital is estimated at 15% per annum during the rst year and 17% per annum during the second year. What is the net present value of the project (to the nearest 500)? 0 9500 O 32000 0 12000 O 2 500