Goldsmith Labs Recovers Gold from Printed Circuit Boards

Goldsmith Labs recovers gold from printed circuit boards.It has developed new equipment for this purpose.You have the following data.
1) The equipment costs $250,000.
2) It costs $200,000 per year to operate.
3) It has an economic life of five years and is depreciated using the straight-line method.
4) It will recover 300 ounces of gold per year.
5) The current price of gold is $900 per ounce and is expected to increase at a rate of 4% per year for the foreseeable future.
6) The tax rate is 30%.
7) The cost of capital is 8%.
What is the NPV of installing this equipment?

A) $430,400
B) $520,510
C) $470,400
D) $195,911