Consider the following expected net cash flows for a project:

Year

Expected NCF

Certainty Equivalent Factor

Certainty Equivalent Cash

Flows

$\backslash$table$[[0,1\mathrm{.}0,],[1,80,000,0\mathrm{.}5],[3,60,000,0\mathrm{.}5],[4,0\mathrm{.}5,],[5,10,000,0\mathrm{.}6]]$

Your boss wants you to calculate the NPV of this project and says to use the annual riskfree rate of $3\%$ as a discount rate. However, you realize that there is risk in this project, and you decide to account for this in the NPV calculation. You decide to use a certainty equivalent approach and establish certainty equivalent factors for each expected cash flow. Using the CE approach, re$-$calculate the $($expected$)$ NPV for this project.