Glamour Music is considering investing $800,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net cash inflows of $80,000 per year for the next ten years. Assuming that Glamour Music uses an 8% hurdle rate, what is the net 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 to view the present value table.) (Click the icon to view the future value of an annuity table.) (Click the icon to view the future value table.) (Round your answer to the nearest whole dollar. Use parentheses or a minus sign for a negative net present value.) The net present value of the studio investment is $ Since the NPV is the studio investment Glamour Music's minimum required rate of return. Therefore, the investment is