Outdoor Sports is considering adding a putt putt golf course to its facility. The course would cost $171,000, would be depreciated on a straight-line basis over its 4-year life, and would have a zero salvage value. The sales would be $97,400 a year, with variable costs of $27,600 and fixed costs of $12,200. In addition, the firm anticipates an additional $16,900 in revenue from its existing facilities if the putt putt course is added. The project will require $2,800 of net working capital, which is recoverable at the end of the project. What is the net present value of this project at a discount rate of 14 percent and a tax rate of 22 percent?

a. $27,377

b. $13,831

c. $24,577

d. $94,331

e. $25,719