Merrill Corp. has the following information available about a potential capital investment: 1,600,000 Initial investment 250,000 Annual net income Expected life 8 years Salvage value 350,000 Merrill's cost of capital 10 Assume straight line depreciation method is used Required: 1. Calculate the project's net present value. Assume straight line depreciation method is used. (Future Value of $1, Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided.) Net Present Value