The following information concerning a proposed capital budgeting project has been provided by Jochum Corporation: Use the Present Value of $1 Table: Click here to view Exhibit 14B-1 to determine the appropriate discount factor(s) using tables. Investment required in equipment $ 208,000 Salvage value of equipment $0 Working capital requirement $ 32,000 Annual sales $ 670,000 Annual cash operating expenses $ 463,000 One-time renovation expense in year 3 $ 70,000 The expected life of the project is 4 years. The income tax rate is 30%. The after-tax discount rate is 10%. The annual depreciation expense would be $52,000. . Working capital is released at the end of the project. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The net present value of the project is closest to: (Round Intermediate calculations and final answer to the nearest dollar amount.) Multiple Choice O $209,895 $385,000 $253,683 $346,300