Simple Life Inc. is expanding and expects operating cash flows of $25,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project initially requires $3,000 of net working capital that will be recouped at the end of the project. What is the net present value of this expansion project at a required rate of return of 16 percent?

A. $18,477.29

B. $21,033.33

C. $23,704.29

D. $27,909.57

E. $32,409.57