Check my work please.

Marti Industries is deciding whether to automate one phase of its production process. The manufacturing equipment has a six-year life and will cost $930,000. Projected net cash inflows are as follows: (Click the icon to view the projected net cash inflows.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) Read the requirements Requirement 1. Compute this project's NPV using Marti's 16% hurdle rate. Should Marti invest in the equipment? Use the following table to calculate the net present value of the project. (Enter any factor amounts to three decimal places, X.XXX. Use parentheses or a minus sign for a negative net present value.) Net Cash PV Factor Present Years Inflow (i = 16%) Value Data Table Present value of each year's inflow: 1 (n = 1) 862 226706 2 263,000 253,000 223,000 .743 187979 Year 1 $ (n = 2) (n = 3) 263,000 3 641 142943 Year 2 253,000 4 (n = 4) 214,000 552 118128 Year 3 223,000 5 (n = 5) 200,000 476 Year 4 214,000 95,200 72,980 6 178,000 (n = 6) 410 Year 5 200,000 Total PV of cash inflows 843936 Year 6 178,000 0 930000 Initial investment Net present value of the project (86064) Print Done Requirement 2. Marti could refurbish the equipment at the end of six years for $102,000. The refurbished equipment could be used one more year, providing $77,000 of net cash inflows in year 7. Additionally, the refurbished equipment would have a $51,000 residual value at the end of year 7. Should Marti invest in the equipment and refurbish it after six years? (Hint: In addition to your answer to Requirement 1, discount the additional cash outflow and inflows back to the present value.) Calculate the NPV of the refurbishment (Enter any factor amounts to three decimal places, X.XXX. Use parentheses or a minus sign for cash outflows and for a negative net present value.) Cash PV Factor Present Value Refurbishment at the end of Year 6 (n = 6) (outflow)/inflow (102,000) 77,000 (i = 16%) 410 452 (41820) Cash inflows in Year 7 (n = 7) 34804 23,052 Residual value (n = 7) 51000 452 Net present value of the refurbishment 16,036 The refurbishment provides a positive NPV. The refurbishment NPV is not large enough to overcome the original NPV of the equipment. Therefore, the refurbishment should not alter Marti Industries' original decision regarding the equipment investment