Keller Williams real estate company is considering investment in a new land development project. The project will produce operating cash flow of $29,300 a year for 6 years. To start the project the company has to invest $96,300 in new fixed assets which will be worthless at the end of the project. In addition, the project requires $7,200 of net working capital. What is the net present value of this project at a required rate of return of 11 percent?

Group of answer choices

$27,655

$29,959

$24,304

$32,099