esent Value annuity 9000 equal amountevery period PV= PMT X 1-(1+1)" PV=PMT X [1-(1+i)^(-n)]/i MapleRidge Company is studying a project that would have a five year life and require a $1,600,000 investment in the equipment. At the end of five years, the project would terminate and the equipment would have no value left over. The project would provide net income each year as follows: Yr2020 Dec31, 2020. Sales Less COGS Gross Margin Less: Operating Expenses Advertising and other fixed exp Salary Expense Amortization Expense Total Expenses Net Income The company's discount rate is 16% 3,200,000 300,000 2,900,000 1,200,000 1,400,000 100,000 2,700,000 200,000 Please compute the net present value of the project. Is it acceptable