Jasper Metals is considering installing a new molding machine which is expected to produce operating cash flows of $57,000 per year for 7 years. At the beginning of the project, inventory will decrease by $17,600, accounts receivables will increase by $21,800, and accounts payable will increase by $15,600. 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 $255,000. 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 $52,000. What is the net present value of this project given a required return of 10.2 percent? A) $60,349 B) $50,364 C) $52,418 D) $63,408 E) $52,653