One year ago, you paid $$14,000$ for an empty plot of land. Today, you are considering developing it into a parking lot. It will cost you $$60,000$ today to turn this land into a parking lot. As a parking lot, you anticipate that it will generate $$8,000$ in revenue one year from today. Each year thereafter, forever, this amount will increase by $2\mathrm{.}25\%$ over the prior year. The discount rate for this project is $13\%$ annually. Assume that you have no other ideas for what to do with this land; if you don't build the parking lot, it will not be used for anything else. Assume you will never sell this land.

What is the NPV of this investment?

$14,418\mathrm{.}60$

$418\mathrm{.}60$

$1538\mathrm{.}46$

$60418\mathrm{.}60$