Suppose Celestial Crane Cosmetics is evaluating a proposed capital budgeting project (project Alpha) that will require an initial investment of $400,000. The project is expected to generate the following net cash flows:

Year Cash Flow Year 1 $300,000

Year 2 $400,000

Year 3 $475,000

Year 4 $425,000

The companys weighted average cost of capital is 8%, and project Alpha has the same risk as the firms average project. Based on the cash flows, what is project Alphas net present value (NPV)?

$1,335,171

$910,171

$1,385,171

$510,171