Showcase Boats is planning to develop a new line of fishing boats. They plan to release the first boat in the line at the end of 2015, with updated versions each year through 2020. The company estimates that initial investments will total $12.3 million at the end of 2014, with additional investments of $1.2 million each year a boat is released. They estimate additional positive cash flows of $5.8 million from the boats each year. The project has a discount rate of 14%. What is the NPV of this project?

• A : $4.8 million

• B : $10.3 million

• C : $17.9 million

• D : $5.6 million