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Gaston Company is considering a capital budgeting project that would require a $2, 300,000 investment in equipment with a useful life of five years and

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Gaston Company is considering a capital budgeting project that would require a $2, 300,000 investment in equipment with a useful life of five years and no salvage value. The company's tax rate is 30% and its after-tax cost of capital is 13%. It uses the straight-line depreciation method for financial reporting and tax purposes. The project would provide net operating income each year for five years as follows: Compute the project's net present value. (Round discount factor(s) to 3 decimal places.) Net present value

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