how id PVIA calculated ?

Consider the following example. Solar Electronics Corporation (SEC) has recently developed a solar-powered jet engine and wants to go ahead with full-scale pro- duction. The initial (Year 1)' investment is $1,500 million, followed by production and sales over the next five years. The preliminary cash flow projection appears in Table 7.1. Should SEC go ahead with investment in and production of the jet engine, the NPV at a discount rate of 15 percent is (in millions): $900 (1.15) = -$1,500 + $900 x PVIA (.15, 5) NPV =-$1,500+