Reed Enterprises is considering a project that has the following cash flow and cost of capital (r) data.

r: 10.00%

Year 0 1 2 3

Cash flows $1,050 $450 $460 $470

Due to change in macroeconomic conditions, cost of capital for Real increases by 2 percentage points (new cost of capital will be 12%). By how much will the NPV change?

Group of answer choices

$92.37

$53.03

$39.34

$96.99