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An investment project gives rise to the following cash flows. Beginning of first year, $ 1 2 0 , 0 0 0 per annum will

An investment project gives rise to the following cash flows. Beginning of first year, $ 120,000 per annum will be invested. From the beginning of the first year until the end of the 10th year, net revenue $ 35,000 per annum will be received at the end of each year. The rate of interest will be 12.00% per annum. Compute the Benefit to Cost Ratio (BCR) of the project. (BCR is the sum of the present value of the cash inflows divided by the present value of the cash outflows.)

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