DeVault Services recently hired you as a consultant to help with its capital budgeting process. The company is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, would be depreciated by the straight- line method over its 3-year life, and would have a zero salvage value. No new working capital would be required. Revenues and other operating costs are expected to be constant over the project's 3-year life. The risk-adjusted cost of capital is 10%. What is the project's NPV? Risk-adjusted cost of capital Net investment cost (depreciable basis) Straight-line deprec. rate Sales revenues, each year Operating costs (excl. deprec.), each year Tax rate a. $34,515 10.0% $65,000 33.3333% $65,500 $25,000 25.0% O b. $24,009 c. $40,256 d. $36,331 e. $38,243