XYZ Corp. has a project that sells 14,800 units of product X a year at $4.86 per unit. Its capital equipment costs $38,000 and is depreciated straight-line over 8 years with no salvage value. Its variable costs are 10.30% of sales and fixed costs are $42,300 per year. The required return is 11.30% and the tax rate is 35%. Assume there is no impact on working capital. What is the NPV of the project? a. $44,000 b. $59,720 c. $68,518 d. $19,815 e. $75,131