Jasper Metals is considering installing a new molding machine which is expected to produce unlevered net income of $24,000 per year for 7 years. At the beginning of the project, inventory will decrease by $22,400, accounts receivable will increase by $24,700, and accounts payable will increase by $17,400. At the end of the project, net working capital will return to the level it was prior to undertaking the new project. The initial cost of the molding machine is $280,000. The equipment will be depreciated straight-line to a zero book value over the life of the project. The equipment will be salvaged at the end of the project creating an aftertax cash flow of $64,000. What is the net present value of this project given a required return of 10.8 percent?

Group of answer choices

$65,005

$62,492

$77,401

$64,749

$73,918