3. 6.60 For the net cash flows and cumulative net cash flows shown below, the value of x is nearest:

1. $−8,000 2. $−16,000 3. $16,000 4. $41,000 Year 1 2 3 4 5 Net cash flow, $ +13,000 −29,000 −25,000 +50,000 x Cumulative NCF, $ +13,000 −16,000 −41,000 +9,000 +1,000 Page 194