Lakeside Winery is considering expanding its winemaking operations. The expansion will require new equipment costing $600,000 that would be depreciated on a straight-line basis to a zero balance over the four-year life of the project. The project requires $30,000 initially for net working capital, all of which will be recouped at the end of the project. The projected operating cash flow is $150,000 a year. WACC is 10%. What is the net present value of this project? $122,307$134,030$130,570$279,102