Mester Corporation has provided the following Information concerning a capital budgeting project: After-tax discount rate Tax rate Expected life of the project Investment required in equipment Salvage value of equipment Annual sales Annual cash operating expenses One-time renovation expense in year 3 13% 30% 4 $ 84,000 $ 0 $ 185,000 $ 130,000 $ 25,000 Click here to view Exhibit 7B-1 to determine the appropriate discount factor(s) using tables. The company uses straight-line depreciation on all equipment. Assume cash flows occur at the end of the year except for the Initial Investments. The company takes Income taxes into account in its capital budgeting. The net present value of the project is closest to: (Round Intermediate calculations and final answer to the nearest dollar amount.) Multiple Choice $77,700 $36,332 $121,108 $37,108