Lester's has a new project with projected real cash flows of $12,200, $14,600, and $16,300 for Years 1 to 3, respectively. The nominal discount rate is 15.96 percent and the inflation rate is 4 percent. What is the net present value of the project if the initial cost is $25,000? O $9,444.15 O $9,711.64 O $8,946.48 O $9,248.74 0 $9,508.70