You are asked to evaluate a project proposal for Alberta Plaza. The equipment that would be used would have a constant annual capital cost allowance over the projects 3-year life and a zero salvage value. This project would require some additional working capital that would be recovered at the end of the projects life. Revenues and cash operating costs are expected to be constant over the projects 3-year life. What is the projects NPV?

WACC	10.0%
Net investment in fixed assets (basis)	$65,000
Required new working capital	$15,000
Annual capital cost allowance	$21,665
Sales revenues, each year	$80,000
Cash operating costs, each year	$25,000
Tax rate	25.0%

A		$29,706
B		$47,322
C		$61,666
D		$46,666

Please show work! Thank you :)