NPV Stewart's Shipping Company is considering the following investment and has a required rate of retun 12% Initial Investment $83,000 Estimated Useful Life 6 years Estimated Salvage Value -0- Estimated Annual Cash Flows Cash Inflows from customers $80,000 Cash outflows for operating costs $60.000 Net Annual Cash Flow $20,000 Present Value of an Annuity of 1 Period 8% 996 10% 6 4.623 4.486 4.355 11% 4.231 1296 4.111 15% 3.784 The NPV is REMIUM SOUND