An office building is expected to create operating cash flows of $33,500 a year for three years, based on tenants' rental income. The purchase of the fixed assets for this building will cost $69,000. These assets will have no value at the end of the project. An additional $5,000 of net working capital will be required throughout the life of the project. Calculate the net present value of this project if the required rate of return is 8 percent?

Multiple Choice

• $21,301.91

• $11,301.91

• $16,301.91

• $3,812.50

• $12,332.75

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