The town of Punxsutawney, PA just invested $362,000 to refurbish Gobblers Knob (a well-known tourist attraction in the area). The Gobblers Knob project is expected to produce cash inflows of $47,500 for 11 years and a cash inflow of $62,900 in Year 12. If Punxsutawneys cost of capital is 8.9%, what is the Gobblers Knob project NPV?

Multiple Choice

• $90,687.55

• $20,145.33

• $109,282.15

• $2,465.47

• $14,609.46