St Jude Medical Inc has a project with initial investment requiring $-125,000 and the following cash flows will be generated because of the project: $31,250; $58,000; $60,000; and $57,000 respectively at the end of each year for the next four years. If the required rate of return is 0.06, find the Net Present Value (NPV) of the project.

$40,950

$51,627

$20,475

none of the answers is correct

$37,674