The following information concerning a proposed capital budgeting project has been provided by jochum corporation: click here to view exhibit 13b-1 to determine the appropriate discount factor(s) using tables. investment required in equipment $ 212,000 salvage value of equipment $ 0 working capital requirement $ 34,000 annual sales $ 670,000 annual cash operating expenses $ 408,000 one-time renovation expense in year 3 $ 70,000 the expected life of the project is 4 years. the income tax rate is 30%. the after-tax discount rate is 11%. the company uses straight-line depreciation on all equipment and the annual depreciation expense would be $53,000. assume cash flows occur at the end of the year except for the initial investments. the company takes income taxes into account in its capital budgeting.
the net present value of the project is closest to: (round discount factor(s) to 3 decimal places, do not round intermediate calculations and round final answer to the nearest dollar amount.)

$170,803

$307,450

$186,067

$299,050