The project requires and initial outlay of $1,000,000. It is expected to generate net cash in-flows of $250,000 for the next five years. At the end of five years, Timmy will retire and the equipment will be sold for $500,000 (terminal value). The zoo uses a required rate of 10% to discount this project. Calculate the projects NPV
a. $293,321.52
b. $275,325.21
c. $258,157.35
d. $248,350.35