$2,829

$40,000

$5,618

$45,110

(3pts) Randel Company is evaluating a capital expenditure proposal that has the following predicted cash flows: Initial investment $45,110 Operation Year 1 20,640 Year 2 30,000 Year 3 10,000 Salvage value 0 1 The present value factors of $1 for different rates of return are as follows: Present Value of $1 Period 12% 14% 16% 18% 0.89286 0.87719 0.86207 0.84746 2 0.79719 0.76947 0.74316 0.71818 3 0.71178 0.67497 0.64066 0.60863 0.63552 0.59208 0.55229 0.51579 Given a discount rate of 14 percent, determine the net present value of the investment proposal. 4