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

Initial investment in equipment	$ 680,000
Annual cash flows	$ 200,000 per year
Salvage value of equipment at the end of the project	$ 17,000

If the companys discount rate is 9%, the net present value of the project is closest to: (factors from Exhibit 12B-1 and Exhibit 12B-2 for an interest rate of 9% are provided below).

Periods	Present Value of $1	Present Value of an Annuity of $1
1	0.917	0.917
2	0.842	1.759
3	0.772	2.531
4	0.708	3.240

Multiple Choice

• $96996

• $72000

• $(32200)

• $(20164)