The Downer INC. is considering a 4-year project that will require $164,800 for fixed assets and $42,400 for net working capital. The fixed assets will be depreciated straight-line to a zero book value over the life of the project. These assets will be worthless at the end of the project. Net working capital will return to zero at the end of the project (i.e., at year 4). The project is expected to generate annual sales of $195,000 and costs of $117,500. The tax rate is 35 percent, and the required rate of return is 13 percent. What is the project's net present value?

$27,930.87

-$31,356,30

$91,191.93

$11,535.58

-$14,469.10