PGH, Inc. is considering a new five-year expansion project that requires an initial fixed asset investment of $2.281 million. The fixed asset will be depreciated straight- line to zero over its five-year tax life, after which time it will be worthless. The project is estimated to generate $1,589,600 in annual sales, with costs of $881,760. The tax rate is 35 percent and the required return on the project is 10 percent. What is the net present value for this project? $57,576 $29,728 $49,787 $68,401 $37,804