A contract is estimated to yield net annual returns of $$$$14$ comma $000$ for nine years. To secure the$$ contract, an immediate outlay of $$$$70$ comma $000$ is required. Interest is $13\%$ compounded annually.

Calculate the net present value$($NPV$)$ of the contract and determine whether the project should be accepted or rejected according to the net present value criterion.

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Part $1$

The net present value of the project is $$$

$$

enter your response here.

$($Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as$$ needed.$)$

Part $2$

Should the project be accepted or$$ rejected?

The project should be

$$