Marge's Campground is considering adding a miniature golf course to its facility. The course she wants would cost $30,000, would be depreciated on a straight line basis over the 4-year life of the course, and would have zero salvage value. Marge estimates the income from the golfing fees would be $28,000 a year with $10,000 of that amount being variable cost. The fixed cost would be $5,000. Marge feels that the course would net her, after costs, an additional $10,000 in revenue from her existing facilities. The project will require $1,000 of net working capital which is recoverable at the end of the project. What is the net present value of this project at a discount rate of 12 percent and a tax rate of 34 percent?

	a.	$26,082.36
	b.	$28,213.58
	c.	$23,487.72
	d.	$29,303.19
	e.	$27,990.01