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HW #5 Page 1 of l EMBA FlN526 spring 2017: F|N526 Gary Miller HW #5 instructions I help 4 value: . 4.00 points Howell Petroleum is considering a new project that complements its existing business. The machine required for the project costs $3.93 million. The marketing department predicts that sales related to the project will be 52% million per year for the next tour years. after which the market will cease to exist. The machine will be depreciated down to zero over its four-year economic life using the straight-line method. Cost of goods sold and operating expenses related to the project are predicted to be 30 percent at sales. Howell also needs to add net working capital of $280,000 immediately. The additional net working capital will be recovered in full at the end at the project's life. The corporate tax rate is 40 percent. The required rate of return for the project is 13 percent. What is the value of the NPV for this project? (Enter your answer in dollars, not millions of dollars. e.g.. 1,234,567. Do not round Intermediate calculations and round your answer to 2 declmal places, e.g., 32.16.) NPV 3 I Should the company proceed with the project? OYes O No References eBook & Resources Worksheet Difficulty: 1 Basic Section: 6.2 The Baldwin Company: An Example Check m work .., (,1