You are asked to evaluate a project proposal for Edmonton Plaza. The equipment that would be used would have a constant annual capital cost allowance over the project's 3-year life and a zero salvage value. This project would require some additional working capital that would be recovered at the end of the project's life. Revenues and cash operating costs are expected to be constant over the project's 3-year life. What is the project's NPV? (Show your work by mathematical calculations. DO NOT USE EXCEL)

WACC 10.0%

Net investment in fixed assets (basis) 65,000

Required new working capital 20,000

Annual capital cost allowance 21,665

Sales revenues, each year 75,000

Cash operating costs, each year 25,000

Tax rate 35.0%

A. 29,706

B. 40,083

C. 114,706

D. 60,083