What is the net present value of a project that has an initial cash outflow of 34,900 and the following cash inflows? The required return is 15.35 per cent.

Year Cash Flow

1st year. 12500

2nd year. 19700

3rd year. 0

4th year. 10400

Multiple Choice

a) -2,784.62

b) -2,481.53

d) -3,383.25

e)52,311.08

f) 66,416.75