You are evaluating a project with an initial investment (at year 0) of $50,000 that will produce annual monetary benefits of $15,000 for each of the next 6 years, starting in year 1. A year after the project ends (at year 7), there is an abandonment cost of $21,000. If your firms cost of capital is 8.00% per year, what is the net present value (NPV) of this project?

Group of answer choices

$7,089.90

$19,000.00

$19,343.19

$7,618.93