For the following set of cash flows,

Year	Cash Flow
0	$9,700
1	4,100
2	3,400
3	4,400

a. What is the NPV at a discount rate of 0 percent?

• 2,200.00
• $2,266.00
• $2,310.00
• $2,090.00
• $2,134.00

b. What is the NPV at a discount rate of 15 percent?

• $-670.82
• $-690.95
• $-704.36
• $-637.28
• $-650.70

c. What is the NPV at a discount rate of 23 percent?

• $-1,754.84
• $-1,807.48
• $-1,842.58
• $-1,667.10
• $-1,702.19

d. What is the NPV at a discount rate of 28 percent?

• $-2,323.60
• $-2,393.30
• $-2,439.78
• $-2,207.42
• $-2,253.89