Consider the previous question with the following details:

A company is considering a project that will last for 4 years with no residual value. The project has the following cash flows and details:

Period 0: Cash flow = -$165,000 (Cost of project)

Period 1: Cash flow = $85,000, Net Income = $47,500

Period 2: Cash flow = $66,000, Net Income = $28,500

Period 3: Cash flow = $50,000, Net Income = $12,500

Period 4: Cash flow = $50,000, Net Income = $12,500

Average Book Value = $75,000

The required annual return on projects of this risk is 8%.

The company is trying to determine whether or not to accept this project. If they use the net present value (NPV) method of evaluation, will they accept the project?