please assist with formula to resolve the NPV.

The company has a project with a 5-year life that requires an initial investment of $220,000, and is expected to yield flows of $58,000. What is the net present value of the project if the required rate of return is set at 8%? Calculation Steps Present Value of an Annuity of $1 at Compound Interest. Net Present Value = ( $ 58,000 X ) - $ 220,000 Note: Round your answer to the nearest whole dollar. What NPV does the previous calculation yield? $ Based on the NPV computed above, what is indicated? 1. The project is profitable v 2. Yes v , the initial investment will be recovered. 3. Yes , the required rate of return will be recovered. Check My Work All work saved. Email Instructor Save and Exit Submit Assign