Please answer the question below with a formula explanation, thank you!

A project will produce cash inflows of $3,200 a year for 4 years with a final cash inflow of $5,700 in year 5. The project's initial cost is $9,500. What is the net present value of this project if the required rate of return is 16 percent? A. -$311.02

B. $2,168.02

C. $4,650.11

D. $9,188.98

E. $21,168.02