XYZ is considering buying a new, high efficiency interception system. The new system would be purchased today for $45,300.00. It would be depreciated straight-line to $0 over 2 years. In 2 years, the system would be sold for an after-tax cash flow of $14,800.00. Without the system, costs are expected to be $100,000.00 in 1 year and $100,000.00 in 2 years. With the system, costs are expected to be $76,200.00 in 1 year and $68,600.00 in 2 years. If the tax rate is 45.80% and the cost of capital is 8.20%, what is the net present value of the new interception system project?

		$16324.18 (plus or minus $50)
		$13574.32 (plus or minus $50)
		$15531.91 (plus or minus $50)
		$12249.18 (plus or minus $50)
		None of the above is within $50 of the correct answer