NPV for varying costs of capital LePew Cosmetics is evaluating a new fragrance$-$mixing machine. The machine requires an initial investment of $$320,000$ and will generate cash inflows of $$61,850$ per year for $8$ years. If the cost of capital is $13\%,$ calculate the net present value $($NPV$)$ and indicate whether to accept or reject the machine.

The NPV of the project is $ $($Round to the nearest cent.$)$

Should this project be accepted? $($Select the best answer below.$)$

No

Yes