13. Martin Co. has 25,000 shares of common stock outstanding with a beta of 1.4, a market price of $32 a share, and a dividend yield of 5.8 percent. Dividends increase by 4.1 percent annually. The tax rate is 21 percent and all interest is tax deductible. The firm also has S450,000 of debt outstanding that is selling at 102 percent of par that has a yield to maturity of 6.8 percent. The firm is considering a project that has the same risk level as the firm's current operations, an initial cost of $308,000 and cash inflows of S52,500, $155,000, and $225,000 for Years 1 to 3, respectively. What is the NPV of the project?
(A) $12,515
(B)$18,495
(C)$14,511
(D)$10,157
(E) $20.718