Goodwill Company is thinking of pursuing a project that will cost $850,000, will have a salvage value of $85,000 at the end of the project life of 6 years and projected cash flows given in the table below. If the companys MARR is 6%, use the external rate of return method to determine if the project is acceptable.

Revenues Year-End 1 2 3 200000 330000 300000 420000 400000 350000 Expenses 250000 220000 380000 100000 110000 80000 4 5 6