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 16 percent?

A. $21,033.33

B. $29,416.08

C. $28,288.70

D. $18,477.29

E. $32,409.57