Suppose Praxis Corporations CFO evaluates a project with the following cash inflows. She does not know the projects initial cost; however, she does know that the projects regular payback period is 2.5 years.

Year Cash Flow

Year 1 $375,000

Year 2 $400,000

Year 3 $400,000

Year 4 $425,000

If the projects weighted average cost of capital (WACC) is 9%, what is its NPV?

a. $378,796

b. $268,314

c. $347,229

d. $315,663