Coolplay Corp. is thinking about opening a soccer camp in southern California. To start the camp, Coolplay would need to purchase land and build four soccer fields and a sleeping and dining facility to house 150 soccer players Each year, the camp would be run for 8 sessions of 1 week each. The company would hire college soccer players as coaches. The camp attendees would be male and female soccer players ages 12-1 Property values in southern California have enjoyed a steady increase in value. It is expected that after using the facility for 20 years, Coolplay can sell the property for more than it was originally purchased for. The following amounts have been estimated. $302,700 Cost of land Cost to build soccer fields, dorm and dining facility $605,400 Annual cash inflows assuming 150 players and 8 weeks $928,280 $847,560 Annual cash outflows 20 years Estimated useful life $1,513,500 Salvage value Discount rate 8% Click here to view PV table