Lowell Corp. 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 stright line method over its 3-year life, and would have a zero salvage value. No change in net operating working capital would be required. Revenues and other operating costs are expected to remain constant over the project's 3-year life. What is the project's NPV?

Risk-adjusted WACC 10.0%

Net investment cost (depreciation basis) $65,000

Straght line depreciation rate 33.3333%

Sales revenues, each year 65,500

Annual operating costs (excluding depreciation) $25,000

Tax rate 35.0%

a. $15,740 b. $16,569 c. $17,441 d. $18,359 e. $19,325

Please include all formulas and detailed desciption as to how answer was gotten. Thank you