Gateway Communications is considering a project with an initial fixed asset cost of $2,872,000 which will be depreciated straight-line to a zero book value over the 10-year life of the project. At the end of the project the equipment will be sold for an estimated $300,000. The project will not directly produce any sales but will reduce operating costs by $714,000 a year. The tax rate is 21 percent. The project will require $52,000 of inventory which will be recouped when the project ends. What is the net present value at the required rate of return of 16 percent? Select one: a. $70,475.57 b. $68,019.24 c. $101,414.14 d. $159,243.47 e. $152, 108.10