Calculate the NPV given the following free cash flows if the appropriate required rate of return is 11 percent. Should the project be accepted?

YEAR CASH FLOWS 0 -70,000 1 10,000 2 10,000 3 20,000 4 20,000 5 15,000 6 15,000

a) What is the project's NPV? ( round to nearest cent)

Should the project be accepted?(Select the best choice below.)

- No, the project should be rejected bc its NPV is -$13,135.94

- Yes, the project should be accepted bc its NPV is $8,154.94

- No, the project should be rejected bc its NPV is -$8,154.94

- Yes, the project should be accepted bc its NPV is -$13,135.94