You purchased land 3 years ago for $50,000 and believe its market value is now 560,000 . You are considering building a hotel on this land instead of selling it. To build the hotel, it will initially cost you 575,000 , an expense that you plan to depreciate straight line over the next three years. Wells Fargo offered you a loan for $60,000 at an 8% interest rate to be repald over the next 4 years. You anticipate that the hotel will earn revenues of $140,000 each year, whilc expenses will be a mere $30,000 each year. The initial working capital tequirement will be 57,000 which will be recovered in the last year. The tax rate is 35%, Your estimated cost of capital is 11%. What is the net present value. of this project? A. 563.993 B. 559,226 C. 530,495 D. 310.729