Ibez Company is considering a project that requires an initial investment of $$82,000$ and will generate net cash flows of $$17,500$ per

year for $5$ years. Ibez requires a return of $8\%$ on its investments. The present value factor of an annuity for $5$ years at $8\%$ is $3\mathrm{.}9927.$

a$.$ Compute the net present value of the project.

b$.$ Determine whether the project should be accepted or rejected on the basis of net present value.

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Compute the net present value of the project. $($Negative Net present value amounts should be indicated with a minus sign.$)$