Suppose your CFO wants you to do scenario analysis. She asks you to use the following probabilities and NPV values. There is a 35.0% probability of the worst-case scenario occurring and if it does, the project will have an NPV of -$34,512. There is 45.0% probability of the base-case scenario taking place, in which case the project will earn an NPV of $9,878. Finally, there is 20.0% chance of the best-case scenario happening, in which case the NPV of the project will be $37,951. Calculate the project's expected NPV.

1. $7,114
2. $12,020
3. ($44)
4. $13,478
5. $10,147