Rhoads Corporation is considering a capital budgeting project that would require an investment of $160,000 in equipment with a 4 year expected life and zero salvage value. Annual incremental sales will be $460,000 and annual incremental cash operating expenses will be $330,000. The company's income tax rate is 35% and the after-tax discount rate is 15%. The company uses straight-line depreciation on all equipment; the annual depreciati expense will be $40,000 Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. Click here to view Exhibit 138-1 to determine the appropriate discount factoris) using table The net present value of the project is closest to: Multiple Choice $211,280 $234,000 $281316 $121,36