XYZ is considering a project that would last for 3 years and have a cost of capital of 21.90 percent. The relevant level of net working capital for the project is expected to be $1,711.60 immediately (at year 0); $4,680.00 in 1 year; $15,600.00 in 2 years; and $0.00 in 3 years. Relevant expected revenue, costs, depreciation, and cash flows from capital spending in years 0, 1, 2, and 3 are presented in the following table. The tax rate is 46.40 percent. What is the net present value of this project?.

	Year 0	Year 1	Year 2	Year 3
Revenue	$ 0.00	$11,400.00	$10,700.00	$10,300.00
Costs	$ 0.00	$3,820.00	$3,910.00	$4,700.00
Depreciation	$ 0.00	$1,790.00	$2,070.00	$1,700.00
Cash flows from capital spending	$-7,530.00	$1,890.00	$ 70.00	$3,400.00

		$6319.13 (plus or minus $10)
		$2263.70 (plus or minus $10)
		$-1536.26 (plus or minus $10)
		$8030.31 (plus or minus $10)
		None of the above is within $10 of the correct answer