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8) Northern Pole is developing a special vehicle for Arctic exploration. The development requires investments of $50,000 today, $80,000 in 2 years from today and

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8) Northern Pole is developing a special vehicle for Arctic exploration. The development requires investments of $50,000 today, $80,000 in 2 years from today and $90,000 in 5 years from today. Net returns for the project are expected to be $30,000 at the end of year over the next 15 years. Also, there will be a special onetime inflow of $100,000 in 15 years. If the company requires a rate of return of 12% compounded annually-find the NPV of the project. (Chapter 16.2 NPV)

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