(Ignore Income Taxes in This Problem -
the Net Present Value on This Investment Is Closest

(Ignore income taxes in this problem.) Chow Company has gathered the following data on a proposed investment project: $\begin{array}{lr} \text {Investment required in equipment. } &£ 142,500\\ \text {Annual cash inflows. } &£ 30,000\\ \text {Salvage value. } &£ 0 \\ \text { Life of the investment. } & \text { 8 years}\\ \text { Required rate of return. } &10 \%\\\end{array}$

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The net present value on this investment is closest to

A) £30,000.
B) £76,024.
C) £58,800.
D) £17,550.