Frick Road Paving Corporation Is Considering an Investment in a Curb-Forming

Frick Road Paving Corporation is considering an investment in a curb-forming machine. The machine will cost $180,000, will last 10 years, and will have a $30,000 salvage value at the end of 10 years. The machine is expected to generate net cash inflows of $40,000 per year in each of the 10 years. Frick's discount rate is 10%. The net present value of the proposed investment is closest to:

A) $250,000
B) $65,800
C) $245,800
D) $77,380