$1.$ What is the NPV of the mall project? The project would require an initial investment in equipment of $$600,000$ and would last for either $3$ years or $4$ years $($the date when the project ends will not be known until it happens and that will be when the equipment stops working in either $3$ years from today or $4$ years from today$).$ The first annual operating cash flow of $$238,000$ is expected in $1$ year, and annual operating cash flows of $$238,000$ per year are expected each year until the project ends in either $3$ years or $4$ years. In $1$ year, the project is expected to have an after$-$tax terminal value of $$377,000.$ The cost of capital for this project is $6\mathrm{.}82$ percent.

$2.$ A stock had returns of $31\mathrm{.}40\%(1$ year ago$),12\mathrm{.}60\%(2$ years ago$),$ X $(3$ years ago$),$ and $8\mathrm{.}70\%(4$ years ago$)$ in each of the past $4$ years. Over the past $4$ years, the geometric average annual return for the stock was $9\mathrm{.}23\%.$ What was the arithmetic average annual return for the stock over the past $4$ years? Answer in decimal format, rounded to the nearest hundredth of a percent $($for example, $1\mathrm{.}23\%$ would be entered as $0\mathrm{.}0123).$