Investment Project Scenario Pizza Palace is a pizza restaurant known for its posh dcor and its brick-oven pizza. Pizza Palace has five brick ovens that need attention and is considering two options. Both options will cost around $1,000,000. Option 1 is to refurbish its current brick-ovens. If refurbished, Pizza Palace expects the ovens to last another 6 years. Option 2 is replace the current ovens. New ovens would last 8 years and have no residual value. Pizza Palace expects the following net cash inflows from the two options: Net Present Value Refurbishing Current Machine 73 Years * see table below Investment Project Scenario Pizza Palace is a pizza restaurant known for its posh dcor and its brick-oven pizza. Pizza Palace has five brick ovens that need attention and is considering two options. Both options will cost around $1,000,000. Option 1 is to refurbish its current brick-ovens. If refurbished, Pizza Palace expects the ovens to last another 6 years. Option 2 is replace the current ovens. New ovens would last 8 years and have no residual value. Pizza Palace expects the following net cash inflows from the two options: Net Present Value Refurbishing Current Machine 73 Years * see table below