A project will produce an operating cash flow of $7,300 a year for three years. The initial cash investment in the project will be $11,600. The net after-tax salvage value is estimated at $3,500 and will be received during the last year of the project's life. What is the net present value of the project if the required rate of return is 11%?
A. $8,798.29
B. $9,896.87
C. $10,072.72
D. $13,353.41
E. $20,398.29