Osmond Ltd. is evaluating a project that requires a cash outflow of $X today and has an IRR of 12.40%. The project will see inflows of $48,800 each year for the next 15 years. If similar projects in the market place earn 5.30% annually then what is the NPV of this project?

a.

$325,392

b.

$496,410

c.

$131,552

d.

$171,018

e.

$193,250