Consider the following investment project:

Suppose, as shown in the preceding table, that the company€™s reinvestment opportunities (that is, its MARR) change over the life of the project. For example, the company can invest funds available now at 9% for the first year, 12% for the second year, and so forth. Calculate the net present worth of this investment, and determine its acceptability.

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A, п -$8,500 $4,400 12% $4,400 10% 2 $1,500 13% $3,500 4 12% $4,300 10%