Eon Industries is deciding whether to automate one phase of its production process. The manufacturing equipment has a six-year life and will cost $920,000. Projected net cash inflows are as follows: (Click the icon to view the projected net cash inflows.) (Click the icon to view Present Value of $1 table.) Read the requirements. (Click the icon to view Present Value of Ordinary Annuity of $1 table.) Requirement 1. Compute this project's NPV using Eon's 16% hurdle rate. Should Eon invest in the equipment? Use the following table to calculate the net present value of the project. (Enter any factor amounts to three decimal places, X.XXXX. Use parentheses or a minus sign for a negative net present value.) Net Cash Years Year 1 Present value of each year's inflow: (n = 1) Year 2 Present value of each year's inflow: (n = 2) Year 3 Present value of each year's inflow: (n = 3) Year 4 Present value of each year's inflow: (n = 4) Year 5 Present value of each year's inflow: (n = 5) Year 6 Present value of each year's inflow: (n = 6) Total PV of cash inflows Year 0 Initial investment Net present value of the project Inflow PV Factor (i 16%) Present Value Data table Year 1 Year 2 $ 265,000 252,000 Year 3 225,000 Year 4 214,000 Year 5 203,000 Year 6 173,000 Print Done