Winter Properties is considering installing a new machine which is expected to produce operating cash flows of $71,500 per year for 9 years. At the beginning of the project, inventory will decrease by $31,200, accounts receivables will increase by $28,600, and accounts payable will increase by $20,700. 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 $306,000. 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 $86,000. What is the net present value of this project given a required return of 11.9 percent? Multiple Choice $135,690 $122,515 $131,031 $140,718 $117,188