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olomon Company is considering investing in two new vans that are expected to generate combined cash inflows of $ 3 0 , 0 0 0

olomon Company is considering investing in two new vans that are expected to generate combined cash inflows of $30,000 per year. The vans combined purchase price is $94,500. The expected life and salvage value of each are five years and $20,300, respectively. Solomon has an average cost of capital of 14 percent. (PV of $1 and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
Required
Calculate the net present value of the investment opportunity.
Note: Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to 2 decimal places.
Indicate whether the investment opportunity is expected to earn a return that is above or below the cost of capital and whether it should be accepted.

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