Fairways Driving Range Step 7: Forecast Total Cash Flows NOTE: Don't forget salvage value Operating -Additions to Year Cash Flow Working - Capital Spending = = Total Cash Flow Capital 0 $0.00 $3,000.00 $18,000.00 ($21,000.00) 1 3940 150 0 3790 0 2 6049 158 5891 0 3 7482 165 7317 0 4 9047 174 8873 0 5 10811 182 10629 6 12413 191 -1530 13752 Step 8: What is the NPV of this project? + Year 0 1 2 3 4 5 16 Total Cash Flows PV(Cash Flows) ($21,000.00) ($21,000.00)