Lakeside Winery is considering expanding its winemaking operations. The expansion will require new equipment costing $$671,000$ that would be depreciated on a straightline basis to zero over the $6-$year life of the project. The equipment will have a market value of $$179,000$ at the end of the project. The project requires $$49,000$ initially for net working capital, which will be recovered at the end of the project. The operating cash flow will be $$161,700$ a vear. What is the net present value of this project if the relevant discount rate is $14$ percent and the tax rate is $40$ percent?

A $-$$$17,954$

B $-$$$23,643$

C

$-$$$19,949$

D

$-$$$21,279$

E

$-$$$25,462$