Fulton Township is studying a 720-acre site for a new landfill. The new site will save $72,000 in annual operating costs for 10 years, as Fulton currently uses the landfill of a neighboring municipality. Other data are:

Purchase price per acre: $560

Site preparation costs: $112,000

Hurdle rate: 4%

Ignore income taxes.

1. Determine net present value

2. Determine whether the landfill should be acquired

3. Determine the landfill's approximate internal rate of return using the PV table