A project has an initial requirement of 310000 for fixed


A project has an initial requirement of $310,000 for fixed assets and $62,000 for net working capital. The fixed assets will be depreciated to a zero book value over the 3-year life of the project and have an estimated salvage value of $160,000. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $345,000 and the discount rate is 18 percent. What is the project's net present value if the tax rate is 34 percent?

A:   $403,618.02

B: $414,141.41

C:   $446,047.36

D: $478,122.21

E: $480,130.81

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Financial Management: A project has an initial requirement of 310000 for fixed
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