Pool Corp has provided the following data related to a 5 year investment project that it is evaluating: Initial investment in equipment Annual net cash inflow Salvage value of equipment at the end of the project Working capital required $ 500,000 $ 140,000 $ 14,000 $ 50,000 The working capital is put into the project immediately and is released back to the company at the end of the project. If the company's discount rate is 12%, the net present value of the project is closest to (factors from Exhibit 12B-1 and Exhibit 12B-2 for an interest rate of 12% are provided below). Period Present value of $1 Present value of an annuity 0.893 1 0.893 2 0.797 1.690 3 0.712 2.402 4 0.636 3.037 5 0.567 3.605 a. $49,838 o b. ($ 9,012) O C. ($37,362) d. $34,288