Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.32 million. The fixed asset falls into the three-year MACRS class. (year 1:, 0.3333, year 2: 0.4445, year 3:0.1481). The project is estimated to generate $1.735 million in annual sales, with costs of $650,000. The project requires an initial investment in net working capital of $250,000, and the fixed asset will have a market value of $180,000 at the end of the project. The tax rate is 21 percent. If the required return is 12 percent, what is the project's NPV? $162,570.38 $ 158,694.45 $159,568.49 $181,347.29