Phone Home, Inc. is considering a new 4-year expansion project that requires an initial fixed asset investment of $3 million. The fixed asset will be depreciated straight-line to zero over its 4-year life, after which time it will have a market value of $231,000. The project requires an initial investment in net working capital of $330,000. The project is estimated to generate $2,640,000 in annual sales, with annual costs of $1,056,000. The tax rate is 35 percent and the required return for the project is 20 percent. What is the net present value for this project?

A. $87,314

B. $174,047

C. $246,458

D. $285,448

E. None of the above