Angels Co$.$ is considering a $3-$year project with an initial cost of $$618,000.$ The project will not directly produce any sales but will reduce operating costs by $$265,000$ a year. The equipment is depreciated straight$-$line to a zero book value over the life of the project. At the end of the project the equipment will be sold for an estimated $$60,000.$ The tax rate is $34\%.$ The project will require $$20,000$ in extra inventory for spare parts and accessories. Should this project be implemented if Angels' requires a $9\%$ rate of return? Why or why not?

No; The NPV is $-$$$22,640\mathrm{.}00.$

Yes; The NPV is $$24,632\mathrm{.}00.$

Yes; The NPV is $$28,037\mathrm{.}45.$

Yes; The NPV is $$33,106\mathrm{.}54.$

Yes; The NPV is $$36,884\mathrm{.}40.$