Micro Systems is evaluating a $56,200 project with the following cash flows.

Years	Cash flows
1	$	9,630
2		12,100
3		24,500
4		24,500
5		31,300

The coefficient of variation for the project is .654.

Coefficient of variation			Discount rate
0	?	.25		5	%
.26	?	.50		10
.51	?	.75		14
.76	?	1.00		18
1.01	?	1.25		24

(a-1)

Select the appropriate discount rate.

	5%
	10%
	14%
	18%
	24%

(a-2)

Compute the net present value. UseAppendix B.(Round "PV Factor" to 3 decimal places, intermediate and final answers to the nearest dollar amount. Negative amount should be indicated by a minus sign. Omit the "$" sign in your response.)

Net present value

$