New Equipment Costs $225,000 and Is Expected to Last for Five

New equipment costs $225,000 and is expected to last for five years with no salvage value. During this time the company will use a 30% CCA rate. The new equipment will save $90,000 annually before taxes. If the company's required rate of return is 11%, determine the NPV of the purchase. Assume a tax rate of 30%.

A) $51,884
B) $52,084
C) $53,284
D) $54,784
E) $55,184