Use the following table

Present Value of an Annuity of 1

Period. 8%. 9%. 11%

1 .926. .917. .909

2. 1.783. 1.759. 1.736

3. 2.577. 2.531. 2.487

A Company has a minimum required rate of return of 9%. It is considering investing in a project which costs $350,000 and is expected to generate cash inflows of $140,000 at the end of each year for 3 years. The net present value of this project is

354,340

70,000

35,436

4,340