Your firm is considering replacing a manual welding process with a robotic welding platform. The robotic welding platform will cost $3,200,000 and will be depreciated straight-line to a book value of $0 over its 10-year life. The annual cost savings from switching to this platform is expected to be $475,000 per year. Due to its higher efficiency, net working capital (NWC) can be reduced by $200,000 upon purchase (t=0); this number will be reversed in the last year (t=10). Assume no salvage value.

If your tax rate is 21%/year and your firm's cost of capital is 8%/year, what is the NPV of this investment?

A) -$57,777 B) $121,504 C) -$123,763 D) $39,001 E) $275,305