Net present value: Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,968,450, would have a life of five years, and would produce the cash flows shown in the following table. What is the NPV if the discount rate is 15.9 percent?

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Year Cash Flow 1 $512,496 234 -242,637 814,558 4 887,225 5 712,642