A firm is evaluating a project that will increase annual cash sales by $145,000 and increase annual cash costs by $94,000. The project will initially require $110,000 in fixed assets that will be depreciated straight-line to a zero book value over the four-year life of the project. The applicable tax rate is 32 percent and the required rate of return is 10%. Compute the Net Present Value of the Project.

$27,826

$43,480

$63,920

$29,920