Famous Music is considering investing $700,000 in private lesson studios that will have no residual value. The studios are expected to result in annua net cash inflows of $95,000 per year for the next nine years. Assuming that Famous Music uses an 8% hurdle rate, what is the not present value (NPV of the studio investment? Is this a favorable investment? (Click the icon to view the present value of an annuity table.) (Click the icon fo view the present value tablo.) (Click the icon to view the future value of an annuity table.) (Click the icon to viow the future value tablo.) (Round your answer to the nearest wholo dollar. Use parentheses or a minus sign for a nogative net prosent value) The net present value of the studio investment is Questions 1. What was the net cash flow from operating activities for the year? 2. What was the cash flow from (or used for) investing activities for the year? 3. What was the cash flow from (or used for) financing activities for the year? 4. What was the net change in cash for the year? 5. If the beginning balance of cash for the year was $150,000, what was the balance of cash at the end of the year