Shelby American Industries has gathered the following data on a proposed Investment project: Investment required in equipment Annual cash inflows Salvage value Life of the investment Required rate of return $240,000 $75,000 $0 8 years 10% The company uses straight-line depreciation. Assume cash flows occur uniformly throughout a year except for the initial investment. The net present value for the investment is closest to: $160,000 O$26,750 O $58,800 $240,024