. Jeremy is thinking of starting up a candle manufacturing business. The initial outlay for equipment, moulds, and other required production equipment is $15,000. Working part time on this hobby business, Jeremy estimates that he will lose $2,000 in the first year, break even in the second year, and earn annual profits of $5,000, $10,000, and $15,000 in subsequent years. After the five years, he hopes to sell the business to an investor for $17,500. If his cost of capital is 8.25% compounded annually, should he pursue this venture? Provide net present value calculations to support your answer