Project X has cashflows of $11,400 in year 0, -2,500, -2,500, -2,500 and -9,500 in years 1,2,3,4, respectively. What is the net present value of the following cash flows if the relevant discount rate is 5.75 percent?

a.

$1,232.68

b.

$1,482.15

c.

$1,211.40

d.

$1,402.02

e.

$507.19