A risky $310,000 investment is expected to generate the following cash flows:

Year	1			2			3			4
	$	108,800		$	169,830		$	153,326		$	130,700

1. If the firms cost of capital is 14 percent, should the investment be made? Use Appendix B to answer the question. Use a minus sign to enter a negative value, if any. Round your answer to the nearest dollar.

   NPV: $

2. An alternative use for the $310,000 is a four-year U.S. Treasury bond that pays $18,600 annually and repays the $310,000 at maturity. Management believes that the cash inflows from the risky investment are equivalent to only 60 percent of the certain investment, which pays 6 percent. Should the investment be made? Use Appendix B to answer the question. Do not round other intermediate calculations. Use a minus sign to enter a negative value, if any. Round your answer to the nearest dollar.

   NPV: $