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

By eliminating Product B, the firm will lose the product's $8,000 annual contribution margin but will save $10,000 of annual fixed costs.

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

A: $31,340

B: $35,414

C: $40,018

D: $45,221

E: $51,099

F: $57,742