X Company is thinking about expanding the production of Product X and eliminating Product Y. Expanding sales of X should result in additional firm profits of $8,000 per year for the next 5 years, but will require the purchase of some additional equipment, costing $12,000. This equipment should be worth $3,300 at the end of 5 years.

By eliminating Product Y, the firm will lose the product's $5,000 annual contribution margin but will save $13,000 of annual fixed costs.

Assuming a discount rate of 4%, what is the net present value of expanding the production of Product X and eliminating Product Y?

A: $35,019

B: $46,575

C: $61,945

D: $82,386

E: $109,574

F: $145,733