(Ignore Income Taxes in This Problem

(Ignore income taxes in this problem.) Fossa Road Paving Corporation is considering an investment in a curb-forming machine.The machine will cost $240,000,will last 10 years,and will have a $40,000 salvage value at the end of 10 years.The machine is expected to generate net cash inflows of $60,000 per year in each of the 10 years.Fossa's discount rate is 18%.The net present value of the proposed investment is closest to:

A) $5,840
B) $37,280
C) $(48,780)
D) $69,640