Kent Duncan is exploring the possibility of opening a self-service car wash and operating it for the next five years uneil he retires. He hos gathered the following intormation: a. A buifiding in which a car wash could be installed is avalable under a five-year lease at a cost of $4,300 per month. b. Purchase and installation costs of equipenent would total $305.000 In fre years the equlpment could be sold for about 10% of its orighal cost. c. An investment of an additional $5.000 would be requited to cover wodking capital needs for cleaning supplies, change funds, and so forth. After Fve yeais, this working captal would be released for investment elsevihere. d. Both a wash and a vacuuin service vould be ofered. Each customer would pay $1.35 for a wash and $.70 for access to a vacuum cleanet. e. The only varioble costs associated with the operetion would be 7.5 cents per wosh for water and 10 cents per use of the wocuun for electricity E. in addition to rent, monthly conts of opecation would be: deening, 52.600 insurance, 575 and maintenance, $1.825. 9. Gross receipts from the wosh wowid be about $2,700 per week. According to the experience of other car washes. 603 of the customers using the wash would also use the vacuum. Mt Duncan will not open the car wash unless it provides at least o 12\% seturn. Required: 1. Assuming that the car wash will be open 52 weels a year, compute the expected annual net cash recelpts from its operation. 2.a. What is the net present value of the investment in the car wash? 2.b. Would you advise Mr. Duncan to open the car wash? Complete this question by entering your answers is the tabs below. Assuming that the car wash wil be ogen 52 weeks a yeac, compute the expected andual net cash receipts from iss operanon. What is the net present value of the imestment in the car wash? (Enter negative amoant with a minus sign. Round your final answer to the aearest abole dollar amount.). Would you advise Mr. Duncan to open the car wash