Herky Foods is considering acquisition of a new wrapping machine. By purchasing the machine, Herky will save

money on packaging in each of the next $5$ years, producing the series of cash inflows shown in the following table:

$.$ The initial investment is estimated at $$1\mathrm{.}94$ million. Using a $5\%$ discount rate, determine the net present

value $($NPV$)$ of the machine given its expected operating cash inflows. Based on the project's NPV$,$ should Herky

make this investment?

The net present value $($NPV$)$ of the new wrapping machine is $ $.($Round to the nearest cent.$)$

Data table

$($Click on the icon here

into a spreadsheet.$)$

in order to copy the contents of the data table below