4) ZIdan is the financial advisor for his company and is considering the purchase of excavation equipment which will cost $70,000. The purchase of this equipment is expected to save his company $8,403 at the end of every year for 10 years. At the end of the 10 years, he expects the excavation equipment to have a residual (inflow) value of $11,700. The company requires a 5.5% rate of return. Round PV to the nearest cent. Round NPV to the nearest whole number.

1. What is the Net Present Value (NPV) of this equipment investment?

Cash Inflows

Cash Inflows	Payments (Savings)	Residual (Inflow)
P/Y =
C/Y =
N =
I/Y =	%	%
PV =	$	$
PMT =	$	$
FV =	$	$

(If the NPV is negative, enter it as a negative number. If the NPV is zero, enter 0

NPV = $