An engineer is considering upgrading four production-lines. She has determined that upgrading all four lines is economically justifiable and proposes to invest the $64,000 necessary to make these improvements. Her boss declines her request for all of the funds and states she may spend only $40,000 for improvements this year. Given her discount rate of 8%, what is the highest NPV she can obtain from her total investment? Do not enter dollar sign, just the number.

Project         Initial                    NPV                 

                 Investment            

A              $12,000                   $1,250

B              $15,000                  $1,150

C              $12,000                   $1,640

D             $25,000                   $2,840