A project you are considering requires an initial cash outlay of $600,000 for equipment. You expect to spend an additional $40,000 in the first year to cover costs as the project will produce negligible cash inflows for that year. During years 2 through year 6, you expect to receive cash inflows of $300,000 a year. What is the net present value of this project at a discount rate of 15 percent? $253,824.82 $214,831.36 $271,481.15 $239,692.63