You Are Analyzing a Project with an Initial Cost Of \le

You are analyzing a project with an initial cost of $\le$ 50,000. The project is expected to return $\le$ 10,000 the first year, $\le$ 35,000 the second year and $\le$ 40,000 the third and final year. The current spot rate is $\le$ 0.5086. The nominal return relevant to the project is 11 % in the U.S. The nominal risk-free rate in the U.S. is three % while it is five % in the U.K. Assume that uncovered interest rate parity exists. What is the net present value of this project in U.S. dollars?

A) $23,611
B) $25,408
C) $26,930
D) $29,639
E) $30,796