A project to reduce cost at ABC Ltd has been proposed. It will require a cash outlay of 800,000 and the project will generate cost savings 300,000 in year 2 and 600,000 in year 3. The company's cost of capital is 8% What is the net present value (NPV) of the project? Select one: 66,530 negative 7,250 negative 66,530 positive 7,850 negative