Stembridge Company is setting up to manufacture a new line of products. The cost of the manufacturing equipment is $750,000. Expected cash flows over the next four years are $125,000, $250,000, $400,000 and $500,000. Given the company's required rate of return of 15 percent, what is the NPV of this project?
$96,615
$119.806
$69,806
$22,607