Glenora Inc. is considering the following project: The equipment has a 4-year project life. This equipment falls into class 43 with a CCA rate of 30% and would have zero salvage value. The firm has other assets in asset class 43. No new working capital would be required. Revenues and cash operating costs are expected to be constant over the projects 4-year life. What is the projects NPV?

	WACC	8.0%
	Net investment cost	$80,000
	Sales revenues, each year	$70,000
	Cash operating costs	$25,000
	Tax rate	20.0%

		$96,880
		$51,400
		$12,164
		$119,237 Can you please explain the answer( not in excel). Thank you