Porus Corp has provided the following data concerning a four year investment project that it is considering:

Initial investment in equipment	$ 540,000
Annual cash flows	$ 175,000 per year
Salvage value of equipment at the end of the project	$ 16,000

If the companys discount rate is 11%, the net present value of the project is closest to: (factors from Exhibit 12B-1 and Exhibit 12B-2 for an interest rate of 11% are provided below).

Periods	Present Value of $1	Present Value of an Annuity of $1
1	0.901	0.901
2	0.812	1.713
3	0.731	2.444
4	0.659	3.102

Multiple Choice

• $77000

• $13569

• $3025

• $115984

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