Suppose Cold Goose Metal Works Inc. is evaluating a proposed capital budgeting project (project Alpha) that will require an initial investment of $500,000. The project is expected to generate the following net cash flows: Year Cash Flow Year 1 $350,000 Year 2 400,000 Year 3 450,000 Year 4 400,000 Cold Goose Metal Works Inc.s weighted average cost of capital is 7%, 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)? (Note: Do not round your intermediate calculations.) $348,970 $1,248,970 $976,315 $848,970