单选题 An analyst gathered the following data about a project: Costs are $ 8000 plus $ 2000 in shipping and installation. For the next five years the project will annually generate $5000 in sales and $ 2000 in costs, not including depreciation. The project is being depreciated on a straight-line basis over five years with no salvage value. The company's tax rate is 40% , and the weighted average cost of capital is 10%. The project's net present value (NPV) is closest to:

A、

A. -$144.
B、

B. $144.
C、

C. $279.

【正确答案】 A

【答案解析】Depreciable basis: $ 8000+$ 2000=$10000. Annual depreciation using straight-line depreciation: $10000/5=$ 2000. Cash flow=(revenues-cost)(1-t)+(depreciation tax savings)=($ 5000-$ 2000)×0.6+2000×0.4=$ 2600. PMT=2600; N=5; I/Y=10; PV=$9856.05. NPV=$9856.05 -$10000=-$143.95.