Bruce is considering the purchase of a restaurant named Hard Rock Hollywood. The restaurant is listed for sale at $900,000. With the help of his accountant, Bruce projects the net cash flows (cash inflows less cash outflows) from the restaurant to be the following emounts over the next 10 years: Years Amount 1-6 $ 84,000 (each year) 94,000 7 8 104,000 9 10 114,000 124,000 Bruce expects to sell the restaurant after 10 years for an estimated $1140,000. (FV of $1. PV of $1. EVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Required: 1-a. Calculate the total present value of the net cash flows if Bruce wants to make at bast 11% annually on his investment. (Assume all cash flows occur at the end of each year.) Total present value 1-b. Should he purchase the restaurant? Yes No