Westland College has a telephone system that is in poor condition. The system either can be overhauled or replaced with a new system. The following data have been gathered concerning these two alternatives (Ignore income taxes.): Present Proposed System New System $250,000$300 Purchase cost new Accumulated depreciation Overhaul costs needed now Annual cash operating costs Salvage value now Salvage value at the end of 8 years$1 Working capital required See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factors) using the tables provided $240,000 230,000 $180,000$170,00 $160,000 152,000| | $165,000! $200,000 Westland College uses a 10% discount rate and the total cost approach to capital budgeting analysis. Both alternatives are expected to have a useful life of eight years The net present value of the alternative of overhauling the present system is closest to: A) $(1,194,036) B) $801,284 C) $(1,279,316) D) $(1,119,316)