Gruber Industries is evaluating a $70,000 project with the following cash flows.

Years	Cash Flows
1	$11,000
2	$16,000
3	$21,000
4	$24,000
5	$30,000

The coefficient of variation for the project is 0.847

Based on the following table of risk-adjusted discount rates, should the project be undertaken? Select the appropriate discount rate and then compute the net present value.

Coefficient of Variation	Discount Rate
0 - 0.25	6%
0.26 - 0.50	8%
0.51 - 0.75	10%
0.76 - 1.00	14%
1.01 - 1.25	20%