Which of the following values comes closest to the net present value of a project that requires an initial investment of $250 and produces cash flows of $60 per year for 10 consecutive years beginning at the end of year 5 (the cash flows go from the end of year 5 through the end of year 14)? The required rate of return is 12%?

	a.	($50.32)
	b.	($34.55)
	c.	($17.23)
	d.	($64.70)
	e.	$1.81