A project requires an initial investment of $100,000, has a salvage value of $20,000 after 4 years, and incurs annual expenses of $15,000. It has been estimated that the project will earn yearly revenues as follows:

Year Revenue

Year 1 = 0

Year 2 = 40,000

Year 3 = 80,000

Year 4 =120,000

Using a MARR of 12%, determine the AW of this project. You need to draw a cash flow diagram for this problem.