New equipment costs $700,000 and is expected to last for 4 years with no salvage value. During this time the company will use a 30% CCA rate. The new equipment will save $550,000 annually before taxes. If the company's required rate of return 15%, determine the NPV of the purchase. Assume a 35% tax rate.

A.$450,005

B.$461,112

C.$473,336

D.$485,550

E.$497,668