(Ignore income taxes in this problem.) Your Company is considering a project that would require an initial investment of $725,000 and would have a useful life of 6 years. The annual cash receipts would be $178,000 and the annual cash expenses would be $45,000. The salvage value of the assets used in the project would be $55,000. The company uses a discount rate of 4%. What it the net present value of the project?

Group of answer choices

$23,350

$15,636

$10,686

($27,814)