Highway Plaza is expanding and expects operating cash flows of $29,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $3,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 15 percent?
A. $18,477.29
B. $21,033.33
C. $28,288.70
D. $29,416.08
E. $42,509.63