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. $507.19

b. $1,232.68

c. $1,402.02

d. $1,482.15

e. $1,211.40