Hart Company is performing a post-audit of a project that was estimated to cost $150,000, have a useful life of 6 years with a zero salvage value, and result in net cash inflows of $35,000 per year. After the investment had been in operation for a year, revised figures indicate that it actually cost $170,000, will have a 9-year useful life, and will produce net cash inflows of $29,000.

Using net present value analysis, determine whether the project should have been accepted based on

(a) the original estimates and then on

(b) the revised figures. The required rate of return is 10%.

Please show all steps to help understand the question.