Exercise 13-9 Net Present Value Analysis and Simple Rate of Return [L013-2, LO13-6) points investment in equipment with a useful life of five years and no salvage value. Holston 16%. The project would provide net operating income each year for five years as follows: 3,400,000 1.450,000 1,950,000 s670,000 828,000 Total fixed expenses 498,000 452,000 26