THSI is considering a project that involves setting up a temporary housing facility an an area damaged bu a hurricane. THSI will lease space in this facility to various agencies and groups. THSI estimates that this project will initially cost $5 million to set up and will generate $20 million in revenues during its first and only year in operation(paid in one year). operating expenses are expected to total $5 million during this year and depreciation expense will be another $4 million. THSI will require no working capital for this investment. THSI marginal tax rate is 35%

assume that the cost of capital for this project is 15%. the net present value of this project is closest to:

$9,931,304

-$11

$4,695,652

-$4695,652