Your company is using an old airplane to fulfill its customers' transportation needs. The airplane is getting old and only has two years of useful life left in it. As the airplane is incurring substantial maintenance costs, it generates net cash flow for the firm of only $25,000 per year. A new airplane will cost $250,000, but will generate net cash flow for the firm of $75,000 per year for five years. At the end of five years, the airplane will need refurbishment at a cost equal to what it can be sold for, so it will have no value. If the appropriate risk adjusted discount rate is 8% what is the net present value of the project? Select one: a. $12,554 b. $4,872 c. ($8,948) d. $9,489