You are considering a three-year project that costs $1,000, and has expected cash flows of $300 at the end of the 1st year, $400 at the end of the 2nd year, and $500 at the end of the 3rd year. Given a 10% required rate of return, what is the projects net present value?

[Hint: PV = FV/(1+ r)t ]

Group of answer choices

$21

$0

$979

$77