Bella Company is considering a long$-$term capital investment project in laser equipment. This will require an investment of $$500,000,$ and it will have a useful life of $10$ years. Annual net income is expected to be $$35,000$ a year. Depreciation is computed by the straight$-$line method with no salvage value. The company$$s cost of capital is $12\%.($Assume cash flows can be computed by adding back depreciation expense.$)$

Instructions $($Round all computations to two decimal places.$)$