Use the Following Table $\text { Present Value of an Annuity of } 1$

Multiple Choice

Use the following table $\text { Present Value of an Annuity of } 1$$\begin{array}{rrrr}\text { Period } & 8 \% & 9 \% & 10 \%\\1 & .926 & .917 & .909 \\2 & 1.783 & 1.759 & 1.736 \\3 & 2.577 & 2.531 & 2.487\end{array}$ A company has a minimum required rate of return of 8% and is considering investing in a project that costs $175000 and is expected to generate cash inflows of $70000 at the end of each year for three years. The net present value of this project is

A) $5390.
B) $35000.
C) $2170.
D) $180390.