Toy Engines is considering a project to produce 120,000 engines over the next five years. Each engine will be sold for $15. The necessary equipment will cost you $1.5 million to install. It will be depreciated on a straight-line to zero over the project's life. In five years this equipment can be salvaged for $100,000 (pre-tax value). The annual fixed production costs will be $250,000 per year, and the variable production costs will be $7.25 per engine. An initial investment in net working capital of $100,000 is required. It will be fully recovered at the end of Year 5. The tax rate is 35 percent and the require rate of return is 14.4 percent What is the project NPV? Select one: a. 259.98 thousands b. 362.05 thousands c. 411.02 thousands d. 1944.19 thousands e. 344.19 thousands