Davis Chili Company is considering an investment of $20,000, which produces the following inflows: Year Cash Flow 1 $ 11,000 2 10,000 3 7,000 Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

a. Determine the net present value of the project based on a zero percent discount rate.

Net present value $___________

b. Determine the net present value of the project based on a 9 percent discount rate. (Do not round intermediate calculations and round your answer to 2 decimal places.)

Net present value $___________

c. Determine the net present value of the project based on a 20 percent discount rate. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places.)

Net present value $____________