Marlin Company is in the process of analyzing a potential new project using the net present value method.The expected life of the project is 9 years.The company's cost of capital is 16%.For each cash flow described below, compute its present value:

[Answer format: number: Round tonearest dollar, no dollar sign, no comma, no negative sign]

Present value

Net annual operating receipts from project:

$20,000 net inflow per year........................................... $Answer

Estimated cost of machinery upgrades:

$35,000 to be paid at the end of year 5.................... $ (Answer

)

Cash to be received from the sale of

machinery: $21,000 at end of 9thyear....................... $Answer

Release of working capital: $80,000 at

at end of 9th year.............................................................. $Answer