Moates Corporation has provided the following data concerning an investment project that it is considering:

Initial investment	$ 410,000
Annual cash flow	$ 117,000	per year
Expected life of the project	4	years
Discount rate	9%

Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided.

The net present value of the project is closest to:

Multiple Choice

$410,000

$(31,037)

$378,963

$58,000