Bloomfield Tires Has Assigned a Discount Rate of 14

Multiple Choice

Bloomfield Tires has assigned a discount rate of 14.4 percent to a new project that has an initial cost of $229,000 and cash flows of $74,300,$128,700,and $89,500 for Years 1 to 3,respectively.What is the net present value of this project?

A) $1,308.16
B) -$8,344.40
C) -$5,934.79
D) $5,127.10
E) -$4,899.03