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Jaspreet purchased two trucks for his warehouse for a total of $66,000. This investment saved him $15,000 every year for 11 years. At the end

Jaspreet purchased two trucks for his warehouse for a total of $66,000. This investment saved him $15,000 every year for 11 years. At the end of year 11, he sells both the trucks for a total of $14,000.

a. What is the Net Present Value (NPV) of the investment if the required rate of return is 7%?

Round to the nearest cent

b. Does the investment meet the required rate of return?

Yes

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