Kyle is investing $66,000 in assets to expand his shoe business. These assets cannot be salvaged at the end of the project. He expects operating cash flows of $27,900 per year for 4 years as a result of the expansion. If $4,200 of net working capital are needed throughout the life of the project, what is the NPV of the expansion? Note: 10% is the cost of capital.

(select one)

• $21,108

• $24,309

• $26,046

• $22,439

• $27,493