Lakeside Winery is considering expanding its winemaking operations. The expansion will require new equipment costing $677,000 that would be depreciated on a straight-line basis to zero over the 6 -year life of the project. The equipment will have a market value of $182,000 at the end of the project. The project requires $52,000 initially for net working capital, which will be recovered at the end of the project. The operating cash flow will be $165,300 a year. What is the net present value of this project if the relevant discount rate is 14 percent and the tax rate is 21 percent? Multiple Choice $16,290 $15,126 $13,614 $11,486 $2,991