22) Refer to the Capital Budgeting Narrative. Assume that the firm has a threshold of 3.4 years, then based on the PB method Capital Budgeting Narrative (Use the following information for questions referring to the narrative.: Izmir Estate is considering a new project. The initial investment required is $87,144.41 and the cost of capital is 9%. Expected cash flows over the next four years are given below:

Years	Cash Flow ($)
1	14,000
2	38,000
3	28,000
4	60,000

The project will NOT be accepted

The project will be accepted