A Capital Investment Project Requires an Investment of $100,000 and Has

A capital investment project requires an investment of $100,000 and has an expected life of four years. Annual cash flows at the end of each year are expected to be as follows: $$\begin{array} { c c } \text { Year } & \text { Amount } \\1 & \$ 40,000 \\2 & \$ 48,000 \\3 & \$ 76,000 \\4 & \$ 56,000\end{array}$$ Ignoring income taxes, the net present value of the project using a 8 percent discount rate is

A) $20,320
B) $49,680
C) ($49,680)
D) ($20,320)