The Snowden company is analyzing a project that is expected to increase before-tax cash flows by $5,189,000 each year for 5 years. They spent $1,200,000 on feasibility studies last year and need to spend $15,025,000 on equipment today, if they go ahead with the project. If the required return is 7.40%, and the tax rate is 35%, what is the NPV of the project? (We ignore depreciation) a. $4,824,985 b. -$2,118,758 c. -$2,542,510 d. $6,024,985 e. -$1,342,510