Sallys Styling Salon is trying to decide whether to invest in a project that will require an initial investment of $70,000. Sally anticipates that annual cash flows from the project will be as follows: year 1 $20,000, year 2 $25,000, and year 3 $35,000. Sallys desired rate of return is 8%. What is the Net Present Value of the project?

Group of answer choices

($2,266.50)

$2,266.50

$10,000.00

$67,733.50