You are considering the purchase of some rental property. The cost of an apartment building is $700,000. The projected annual net cash flows at the end of years 1-4 are $50,000, $53,000, $56,000, and $60,000 respectively. At the end of year four you expect to sell the property for $740,000 after commissions. If the cost of capital is 10%, what is the NPV for this project?

	a.	-$527,690
	b.	$28,207
	c.	-$22,259
	d.	-$68,210