Odeletta Corporation is considering an investment of

$ 502 comma 000$502,000

in a land development project. The investment will yield cash inflows of

$ 208 comma 000$208,000

per year for five years. The company uses a discount rate of 9%. What is the net present value of the investment?

Present value of an ordinary annuity of $1:

	8%	9%	10%
1	0.926	0.917	0.909
2	1.783	1.759	1.736
3	2.577	2.531	2.487
4	3.312	3.24	3.17
5	3.993	3.89	3.791

A.

$307,120

B.

$230,920

C.

$208,000

D. $331,320