Marsha Jones has bought a used Mercedes horse transporter for her Connecticut estate. It cost $41,000. The object is to save on horse transporter rentals. Check my work Marsha had been renting a transporter every other week for $206 per day plus $1.30 per mile. Most of the trips are 80 or 100 miles in total. Marsha usually gives the driver, Joe Laminitis, a $45 tip. With the new transporter she will only have to pay for diesel fuel and maintenance, at about $0.51 per mile. Insurance costs for Marsha's transporter are $1,500 per year. 2 The transporter will probably be worth $21,000 (in real terms) after eight years, when Marsha's horse Spike, will be ready to retire. Assume a nominal discount rate of 8% and a 3% forecasted inflation rate. Marsha's transporter is a personal outlay, not a business or financial investment, so taxes can be ignored. NPV Calculate the NPV of the investment. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. $ 34,440

Marsha Jones has bought a used Mercedes horse transporter for her Connecticut estate. It cost $41,000. The object is to save on horse transporter rentals. Marsha had been renting a transporter every other week for $206 per day plus $1.30 per mile. Most of the trips are 80 or 100 miles in total. Marsha usually gives the driver, Joe Laminitis, a $45 tip. With the new transporter she will only have to pay for diesel fuel and maintenance, at about $0.51 per mile. Insurance costs for Marsha's transporter are $1,500 per year. The transporter will probably be worth $21,000 (in real terms) after eight years, when Marsha's horse Spike, will be ready to retire. Assume a nominal discount rate of 8% and a 3% forecasted inflation rate. Marsha's transporter is a personal outlay, not a business or financial investment, so taxes can be ignored. Calculate the NPV of the investment. Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount. NPV