Bold's Gym, a health club chain, is considering expanding into a new location: the initial investment would be $1 million in equipment, renovation, and a 6-year lease, and its annual upkeep and expenses would be $75.000 (paid at the beginning of the year). Its planning horizon is 6 years out and at the end, it can sell the equipment for $50,000. Club capacity it 500 members who would pay an annual fee of $600 at the beginning of each year, Bold's expects to have no problems filling membership slots. Assume that the interest rate is 10% Present value of $1 at 10% interest rate Yr - Value 1 -0.909 2 -0.826 3 -0.751 4-0.683 5 -0.621 6 -0.564 7 -0.513 8 -0.467 9 -0.424 10-0.386 What is the present value profit/loss of the deal