Pickleball Company is considering the following investment proposal:

Initial investment:

Depreciable assets (straight-line)

$72,000

Working capital

8,000

Operations (per year for 4 years):

Cash receipts

$50,000

Cash expenditures

22,000

Disinvestment:

Salvage value of equipment

$6,000

Recovery of working capital

8,000

Discount rate:

10 percent

Additional information for interest rate of 10 percent and four time periods:

Present value of $1

0.683

Present value of an annuity of $1

3.170

What is the net present value for the investment?

Select one:

A. $ 5,256

B. $18,322

C. $65,256

D. $57,060