Lakeside Winery is considering expanding its winemaking operations. The expansion will require new equipment costing $708,000 that would be depreciated on a straight-line basis to a zero balance over the four-year life of the project. The equipment can be sold for $220,000 after the four years. The project requires $46,000 initially for net working capital, all of which will be recouped at the end of the project. The projected operating cash flow is $211,500 a year. What is the net present value of this project if the relevant discount rate is 13 percent and the tax rate is 34 percent?

A. -$7,632.77

B. -$8,309.18

C. -$10,747.11

D. $7,008.14

E. $1,309.54

Can you please explain how to solve for the NPV using a BA II Plus calculator?