Based on the given information,

Murphy Warehouse Company

Based on information from his Chief Financial Officer, Murphy knew that though the project cost was $580,000, an available 21 percent first-year tax credit would result in a net project cost of $458,200. Other financial information is provided as follows: The $458,200 net capital requirement would be financed with the companys cash reserves. A 15% risk-free discount rate is assumed. The $580,000 project is depreciated at a double declining balance rate of 13.333% per year over 15 years. Annual cash savings are assumed to be $68,000 in the first year, with annual increases of 5%. The corporate tax rate (federal and state) on taxable income is 42%. Aside from the initial project cost, no additional fixed or variable costs are assumed.

Calculate the Net Present Value of the stormwater project, given the financial information in the case (Hint- The answer must be 272,431)

Show all the calculations for the discounted cash flow. Thanks in advance!