Lakeside Winery is considering expanding its winemaking operations. The expansion will require new equipment costing $685,000 that would be depreciated on a straight-line basis to zero over the 4-year life of the project. The equipment will have a market value of $186,000 at the end of the project. The project requires $56,000 Initlally for net working capital, which will be recovered at the end of the project. The operating cash fow will be $210,600 a year. What is the net present value of this project if the relevant discount rate is 14 percent and the tax rate is 34 percent? Multiple Choice $22,967 -$19,379 $25,519 $21,532 $27,482