You are given the following financial data about a new investment project to be implemented at a company: Investment cost at n=0: $30,000 Investment cost at n=1: $8,000 Useful life: 8 years Residual value (at the end of 9 years): $10,000 Annual revenues: $20,000 Annual expenses: $7,500 MARR: 9% Note: The first revenues and expenses will occur at the end of Year 2 Considering all the given financial data above, what is the project's balance at the end of its useful life? $49,778.55 $50,604.24 $63,454.73 $54,258.62