Suppose an investor is interested in purchasing the following income producing property at a current market price of $$450,000.$ The prospective buyer has estimated the expected cash flows over the next four years to be as follows: Year $1=$$$40,000,$ Year $2=$ $$45,000,$ Year $3=$$$50,000,$ Year $4=$$$55,000.$ Assuming that the required rate of return is $12\%$ and the estimated proceeds from selling the property at the end of year four is $$500,000,$ what is the NPV of the project?

Multiple Choice

$$8,829\mathrm{.}96$

$$9,889\mathrm{.}56$

$$428,113\mathrm{.}65$

$$459,889\mathrm{.}56$