26

Cortez Art Gallery is adding to its existing buildings at a cost of $1.75 million. The gallery expects to bring in additional cash flows of $580,000,$700,000,$1,000,000, and $50,000 over the next four years. Given a required rate of return of 8 percent, what is the NPV of this project? (Do not round intermediate computations. Round final answer to nearest dollar.) $197,446$97,589$144,255$180,200