Year 0	Year 1	Year 2	Year 3
Revenues		475,000	475,000	475,000
Cost of Goods Sold		-150,000	-150,000	-150,000
Depreciation		-85,000	-85,000	-85,000
EBIT		240,000	240,000	240,000
Taxes (35%)		-84,000	-84,000	-84,000
Unlevered net income		156,000	156,000	156,000
Increases in Net Working Capital		20,000	20,000	20,000
Capital Expenditures	-325,000

Visby Rides, a livery car company, is considering buying some new luxury cars. After extensive research, they come up with the above estimates of free cash flow from this project. Now Visby learns that a competitor is thinking of offering similar services, and that would reduce Visby's sales. By how much could sales fall before the net present value (NPV) was zero, given that the cost of capital is 8%, and that cost of goods sold is 45% of revenues?

		A) 28%
		B) 34%
		C) 45%
		D) 56%