You did such a great job on the last analysis, the company you've just been hired for wants you to analyze another project! For this project, a new molding machine is expected to produce operating cash flows of $109,000 a year for 4 years. At the beginning of the project, you will need $6,000. All net working capital will be recovered at the end of the project. The initial cost of the molding machine is $319,000. The equipment will be depreciated straight-line to a zero book value over the life of the project. The equipment will be salvaged at the end of the project creating an aftertax cash inflow of $51,600. What is the net present value of this project given a required return of 14.2 percent?

a) $27,925.54

b) $24,061.87

c) $22,863.16

d) $25,162.45