Project K has an initial cost of $87,026, and its expected net cash inflows are $17,500 per year for 8 years. The firm has a WACC of 9 percent, and Project Ks risk would be similar to that of the firms existing assets. Calculate the net present value (NPV) of Project K. The correct answer is A ! Please shows steps to solve . Do not use excel to solve Show calculator steps !!

a. $9,833.33

b. $16,764.72

c. $96,859.33

d. $41,414.37

e. $52,974.00