Ballard, Inc. estimates that it can generate $5,200 per year in additional cash inflows for the next five years if it modernizes its equipment at a cost of $18,000. Ballard's minimum desired rate of return is 10%.
Using the present value factors from your text (16%), the net present value of the project is (rounded)
A. $1,712
B. $26,000
C. $8,000
D. $23,200
E. None of the other answers