We expect a project to pay $1,000 at the end of each year for 5 years. The project requires that we purchase an asset that costs $2,000. The asset depreciates straight line over the 5 years. The tax rate is 30 percent.

The discount rate is 10 percent.

What is the net present value of the project?

		$5,581
		1,108
		$1,781
		$3,000