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Item 3

Item 3 0.6 points

For the given cash flows, suppose the firm uses the NPV decision rule.

Year	Cash Flow
0		$ 157,300
1		74,000
2		87,000
3		46,000

a.	At a required return of 9 percent, what is the NPV of the project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	At a required return of 21 percent, what is the NPV of the project? (A negative answser should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)