options are $12021, $12446, $104432, $9390, $13278

The machinery required for a three year project costs \\( \\$ 20,000 \\), belongs in a \15 CCA class, and will require a net working capital investment of \\( \\$ 5,000 \\) up-front (net working capital is recovered at the end of the project). The project generates pre-tax sales less cash costs of \\( \\$ 15,500 \\) in each of years 1 to 3 . The fixed assets will be sold for a salvage value of \\( \\$ 2,000 \\) at the end of the project. If the firm has a tax rate of \35 and a required return of \10, what is the project NPV? Multiple Choice \\( \\$ 12,021 \\) \\( \\$ 12.446 \\) \\( \\$ 10,432 \\) \\$o zan