Peng Company is considering an investment expected to generate an average net income after taxes of $2,900 for three years. The investment costs $53,700 and has an estimated $9,900 salvage value.

Assume Peng requires a 5% return on its investments. Compute the net present value of this investment. Assume the company uses straight-line depreciation. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Negative amounts should be indicated by a minus sign. Round your present value factor to 4 decimals.)

Cash Flow	Select Chart	Amount	x	PV Factor	=	Present Value
Annual Cash Flow	Present Value of Annuity 1		x		=
Residual Value	Present Value of 1		x
	--Present Value of Cash Flows
	--Immediate Cash Flows
	--Net Present Value