Use the following table,

Present Value of an Annuity of 1Period8%9%10%10.9260.9170.90921.7831.7591.73632.5772.5312.487

A company has a minimum required rate of return of9%. It is considering investing in a project which costs $380000and is expected to generate cash inflows of $160000at the end of each year for three years. The net present value of this project is

$404960.

$40496.

$80000.

$24960.