The cash flows of another project with a missing initial cost are as follow:

0 -

1 - $400

2 - $800

3 - $500

4 - $300

The project has the same risk as the firm's average project. While you don't know the project's initial cost, you have been told the project has an IRR of 13.3703%. Your boss wants to accept the project because the project's IRR exceeds the discount rate of 11.6%, but another manager has mentioned that the NPV should be considered. How much value does this project create for the firm?

$23.07

$72.87

$53.89

$35.28

$41.44