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 $12,000 per year for the next 8 years, but will require the purchase of some additional equipment, costing $16,000. This equipment should be worth $3,100 at the end of 8 years.

By eliminating Product Y, the firm will lose the product's $6,000 annual contribution margin but will save $11,000 of annual fixed costs.

Assuming a discount rate of 5%, what is the net present value of expanding the production of Product X and eliminating Product Y?

A: $82,025

B: $95,970

C: $112,285

D: $131,373

E: $153,706

F: $179,836