Julia purchases a new piece of equipment for her business. The equipment was purchased for $65,000 and is expected to generate the following cash flows at teh end of each year for the next seven years:

Year 1 $14,000

Year 2 $19,000

Year 3 $21,000

Year 4 $21,000

Year 5 $16,000

Year 6 $11,000

Year 7 $9,000

Assume the equipment can be sold for $10,000 at the end of 7 years and Julia's required a rate of return is 9%. What is the net present value of this investment

a)	$20,635.27
b)	$21,828.55
c)	$22,280.23
d)	$23,957.29