(Ignore income taxes in this problem.) Your Company is considering a project that would require an initial investment of $820,000 and would have a useful life of 8 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 5%. What is the net present value of the project?

Group of answer choices: ($25,051) $ 39,579 $5,414 $26,653 $76,814