Compute the NPV for Project M if the appropriate cost of capital is 8 percent. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Project M Time: 0 1 2 3 4 5 Cash flow $1,600 $470 $600 $640 $720 $220

NPV $

Should the project be accepted or rejected?

Accepted Rejected