Hope Music is considering investing 675,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net cash inflows of $115,000 per year for the next nine years.

Assuming that Hope Music uses a 12% hurdle rate, what is the net present value (NV) of the studio investment? Is this a favorable investment?

(Click the icen to vhew the present vatue of an anirity table) (Clekk the ken bovew bie prosed vilus tible) CClick the icon to view the future value of an amity labis) OEd the kon be vion the kinee viluis tatin) (Round your awwer to the nearest whole dollar. Use parenteses or a minus sign for a neguive net present value) The net present value of the studio insestrient is. Present Value of Annuity of $1 Present Value of $1 Present Value of Annuity of \$1 Einfura Maleun nef e a