Mattice Corporation is considering investing $820,000 in a project. The life of the project would be 6 years. The project would require additional working capital of $32,000, which would be released for use elsewhere at the end of the project. The annual net cash inflows would be $174,000. The salvage value of the assets used in the project would be $42,000. The company uses a discount rate of 13%. (Ignore income taxes.) Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. Required: Compute the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net present value EXHIBIT 14B-1 Present Value of $1; 1(1+r)n Periods 1 2 3 4 5 6 7 8 9 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 40 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25% 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 0.826 0.820 0.813 0.806 0.800 0.925 0.907 0.890 0.873 0.873 0.857 0.842 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.7180.706 0.694 0.6830.672 0.661 0.650 0.640 0.889 0.864 0.864 0.840 0.816 0.794 0.772 0.751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 0.564 0.551 0.537 0.524 0.512 0.551 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.659 0.636 0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 0.467 0.451 0.437 0.423 0.410 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.593 0.567 0.543 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0.386 0.370 0.355 0.341 0.328 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.335 0.319 0.303 0.289 0.275 0.262 0.760 0.711 0.665 0.623 0.583 0.547 0.547 0.513 0.513 0.482 0.4820.452 0.425 0.400 0.376 0.354 0.354 0.333 0.314 0.296 0.279 0.263 0.249 0.235 0.222 0.210 0.731 0.677 0.627 0.627 0.582 0.540 0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.2490.233 0.218 0.204 0.191 0.179 0.168 0.703 0.645 0.592 0.544 0.500 0.460 0.460 0.424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194 0.180 0.167 0.155 0.144 0.134 0.676 0.614 | 0.558 0.508 0.463 0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.162 0.149 0.137 0.126 0.116 0.107 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.135 0.123 0.112 0.1030.094 0.086 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.112 0.1020.092 0.083 0.076 0.069 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093 0.084 0.075 0.068 0.061 0.055 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.078 0.069 0.062 0.055 0.049 0.044 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.065 0.057 0.051 0.0450.040 0.035 0.534 0.458 0.394 0.3390.292 0.252 0.218 0.1880.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.054 0.047 0.042 0.036 0.032 0.028 0.513 0.436 0.371 0.317 0.270 0.231 0.1980.170 0.146 0.125 0.108 0.093 0.080 | 0.069 0.060 0.052 0.045 0.039 0.034 0.030 0.026 0.023 0.494 0.416 0.350 0.296 0.250 0.212 0.1800.153 0.130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.038 0.032 0.028 0.024 0.021 0.018 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.037 0.031 0.027 0.023 0.020 | 0.017 0.014 0.456 0.377 0.312 0.258 0.312 0.258 0.215 0.178 0.149 0.124 0.104 0.087 0.073 0.061 0.051 0.061 0.051 0.043 0.037 0.043 0.037 0.031 0.031 0.026 0.022 0.019 0.0160.014 0.012 0.439 0.359 0.294 0.2420.199 0.164 0.135 0.112 0.093 0.077 0.064 0.053 0.044 0.037 0.044 0.037 0.031 0.026 0.026 0.022 0.018 0.015 0.013 0.011 0.009 0.422 0.342 0.278 0.226 0.226 0.184 0.150 0.123 0.101 0.083 0.068 0.056 0.046 0.038 0.032 0.026 0.026 0.022 0.018 0.015 0.013 0.011 0.009 0.007 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0.018 0.015 0.012 0.010 0.009 0.007 0.006 0.390 0.310 0.247 0.197 0.158 0.126 0.1020.082 0.066 0.053 0.043 0.035 0.028 0.023 0.019 0.015 0.013 0.010 0.008 0.007 0.006 0.005 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010 0.009 0.007 0.006 0.005 0.004 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.0110.009 0.007 0.006 0.005 0.004 0.003 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.060 0.047 0.037 0.029 0.023 0.018 | 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002 0.333 0.255 0.196 0.150 0.116 0.116 0.090 0.069 0.054 0.042 0.033 0.026 0.020 0.016 0.012 0.010 0.008 0.006 0.005 0.004 0.003 0.002 0.002 0.321 0.243 0.185 0.141 0.107 0.082 0.0630.048 0.037 0.029 0.022 0.017 0.014 0.011 0.008 0.006 0.006 0.005 0.004 0.003 0.002 0.002 0.002 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.044 0.033 0.026 0.020 | 0.015 0.0120.009 0.007 0.005 0.004 0.003 0.003 0.002 0.002 0.001 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000 0.000 EXHIBIT 14B-2 Present Value of an Annuity of $1 in Arrears; 1 r[1-1(1+r)n] Periods 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 40 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 0.962 0.9520.943 0.935 0.926 0.917 0.909 0.901 0.893 0.885 0.877 0.870 1.886 1.859 1.833 | 1.808 1.783 1.759 1.736 1.713 1.690 1.668 1.647 1.626 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.444 | 2.402 2.361 2.322 2.283 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.102 3.037 2.974 2.914 2.855 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.696 3.605 3.517 3.433 3.352 5.242 5.076 4.917 4.767 4.623 4.4864.355 4.231 4.111 3.9983.889 3.784 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.712 4.564 4.423 4.288 4.160 6.733 6.463 6.210 5.971 5.747 | 5.535 5.335 5.146 4.968 4.799 4.6394.487 7.435 7.108 6.802 6.515 6.247 5.995 5.7595.537 5.328 5.132 4.946 4.772 8.111 7.722 7.360 7.024 | 6.710 6.418 6.145 5.889 5.650 5.426 5.216 5.019 8.760 8.306 7.887 7.499 7.139 6.805 6.495 6.207 5.938 5.687 5.453 5.234 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.492 6.194 5.918 5.660 5.421 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.750 6.424 6.122 5.8425.583 10.563 9.899 9.295 8.745 8.244 7.786 | 7.3676.982 6.628 6.302 6.002 5.724 11.118 10.380 9.712 9.108 8.559 8.061 7.606 7.191 6.811 6.462 6.142 5.847 11.652 10.838 10.106 | 9.447 8.851 8.313 7.824 7.379 6.974 6.604 6.265 5.954 12.166 | 11.274 | 10.477 9.763 9.122 8.544 8.022 7.549 7.1206.729 6.373 6.047 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.702 7.250 6.840 6.467 6.128 13.134 12.085 | 11.158 10.336 9.604 8.950 8.365 7.839 7.366 6.938 6.550 6.198 13.590 462 11.470 10.594 9.818 8.5 63 7.46 7.025 6.623 6.259 14.029 | 12.821 11.764 10.836 10.0179.292 8.649 8.075 | 7.562 7.102 6.687 6.312 14.451 13.163 12.042 11.061 | 10.201 | 9.442 8.7728.176 7.645 7.170 6.743 6.359 14.857 | 13.489 | 12.303 11.272 | 10.371 9.580 8.883 8.266 7.718 7.230 6.792 6.399 15.247 13.799 12.550 11.469 | 10.529 9.707 8.985 | 8.348 7.784 7.283 6.835 6.434 15.622 14.094 12.783 11.654 10.675 | 9.8239.077 8.422 7.8437.330 6.873 6.464 15.983 14.375 13.003 11.826 10.810 9.929 9.161 8.488 7.896 7.372 6.906 6.491 16.330 | 14.643 13.211 11.987 10.935 | 10.027 9.237 8.548 7.943 7.409 6.935 6.514 16.663 14.898 13.406 12.13711.051 10.116 9.307 8.602 7.9847.441 6.961 6.534 16.984 15.141 | 13.591 12.278 | 11.158 10.198 | 9.370 8.650 8.0227.470 6.983 6.551 17.292 15.372 13.765 12.409 | 11.258 10.274 9.427 | 8.694 8.055 7.496 7.003 6.566 19.793 17.159 15.046 13.332 | 11.925 10.757 | 9.779 | 8.951 8.244 7.634 7.105 | 6.642 16% 17% 18% 19% 20% 21% 22% 23% 24% 0.862 0.855 0.847 | 0.840 0.833 0.826 0.820 0.813 0.806 1.605 1.585 1.566 1.547 1.528 1.509 1.492 1.474 | 1.457 2.246 2.210 | 2.174 2.140 2.106 2.074 2.042 2.011 1.981 2.798 2.743 2.690 2.639 2.589 2.540 2.494 2.448 2.404 3.274 3.199 3.127 3.058 2.991 2.926 | 2.864 2.803 2.745 3.685 3.589 3.498 3.410 3.326 3.245 3.167 3.092 3.020 4.039 3.922 3.812 3.706 3.605 3.508 3.416 3.327 3.242 4.344 4.207 4.078 3.954 3.837 3.726 3.619 3.518 3.421 4.607 4.451 4.303 4.163 4.031 3.905 3.786 3.673 3.566 4.833 4.659 4.494 4.3394.1924.054 3.923 3.799 3.682 5.029 4.836 4.656 4.486 4.327 4.177 4.035 3.902 3.776 5.197 4.988 4.793 4.611 4.439 4.278 4.127 3.985 3.851 5.342 5.118 4.9104.715 4.533 4.362 4.203 4.053 3.912 5.468 5.229 5.008 4.802 4.611 4.432 4.265 4.108 3.962 5.575 5.324 5.092 4.876 4.675 4.489 4.315 4.153 4.001 5.668 5.405 5.1624.938 4.730 4.536 4.357 4.189 4.033 5.749 5.475 5.222 4.990 4.775 4.576 4.391 4.219 4.059 5.818 5.534 5.273 5.033 4.812 4.608 4.419 4.243 4.080 5.877 5.584 5.316 5.070 4.843 4.635 4.442 4.263 4.097 5.9 5.628 101 4.870 4.657 4.279 5.973 5.665 5.384 5.127 4.891 4.675 4.476 4.292 4.121 6.011 5.696 5.410 5.149 4.909 4.690 4.488 4.302 4.130 6.044 5.723 5.432 5.167 4.925 4.703 4.499 4.311 4.137 6.073 5.746 5.451 | 5.182 4.937 4.713 4.507 4.318 4.143 6.097 5.766 5.467 5.195 4.948 4.721 4.514 4.323 4.147 6.118 5.783 5.480 5.206 4.956 4.728 4.520 4.328 4.151 6.136 5.798 5.492 5.215 4.964 4.734 4.524 4.332 4.154 6.152 5.810 5.502 5.223 4.970 4.739 4.528 4.335 4.157 6.166 5.820 5.510 5.229 4.975 4.743 4.531 4.337 4.159 6.177 5.8295.517 5.235 4.979 4.746 4.534 | 4.339 4.160 6.233 5.871 5.548 5.258 4.997 4.760 4.544 4.347 4.166 25% 0.800 1.440 1.952 2.362 2.689 2.951 3.161 3.329 3.463 3.571 3.656 3.725 3.780 3.824 3.859 3.887 3.910 3.928 3.942 3.954 3.963 3.970 3.976 3.981 3.985 3.988 3.990 3.992 3.994 3.995 3.999