Empire Industries is considering adding a new product to their lineup. This product is expected to generate sales for four years after which time the product will be discontinued. What is the project's net present value if the firm wants to earn a 13 percent rate of return?
Year
0 -62,000
1 16.500
2 23,800
3 27,100
4 23,300
a. $3,505.52
b. $3,767.24
c. $4,312.65
d. $4,519.58
e. $4,902.71