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S12-10 (similar to) Question Help Benton Music is considering investing $800,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net cash inflows of $95.000 per year for the next ten years. Assuming that Benton Music uses an 8% hurdle rate, what is the net present value (NPV) of the studio investment? Is this a favorable investment? (Click the icon to view the present value of an annuity table.) (Click the icon to view the present value table.) (Click the icon to view the future value of an annuity table.) (Click the icon to view the future value table.) (Round your answer to the nearest whole dollar. Use parentheses or a minus sign for a negative net present value.) The net present value of the studio investment is Click the icon to view the present value of an annuity table.) CE i Reference (Click the icon to view the present value table.) e) - nd nel 20% 0.833 1.528 2.106 2.589 2991 Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 1.566 Period 3 2.941 2.884 2.829 2775 2.723 2.673 2.577 2.487 2.402 2322 2246 2.174 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3,312 3.170 3,037 2.914 2.798 2.690 Period 5 4.853 4713 4.580 4.452 4.329 4.2123.993 3.791 3.605 3.433 3.274 3.127 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.889 3.685 3.498 Period 7 6.728 6.472 6 230 6.002 5.786 5.582 5.206 4.8684,564 4.288 4039 3812 Period 8 7.652 7.326 7020 6.733 6.4636.210 5.747 6,335 4.968 4.639 4,344 4.078 Period 9 8.566 8.1627.786 7.435 7.108 6.8026.247 5.759 | 5.328 4.946 4.607 4.303 Period 10 9.471 8.983 | 8530 8.111 77227.360 6.710 6.145 5.650 6.216 4833 4.494 Period 11 10.368 9.7879.253 8.760 8.306 7.887 7.139 6.495 5.938 6.453 6.029 4.656 Period 12 11 255 10.575 9.9549.385 8.863 8.384 7.536 6.8146.194 5.660 5.197 4.793 Period 13 12.134 11 348 10.6359.986 9.394 8.853 7.904 7.103 6.4246.842 6.342 4.910 Period 14 13.004 12.106 11 296 10.563 9.899 9.295 8.244 7.3676.628 6.002 5.468 5.008 Period 15 13.865 12 849 11.938 11.118 10.380 9.712 8.559 7.6066.811 6.142 5.575 5.092 Period 20 18.046 16,361 14.877 13 690 12.462 11.470 9.818 8.514 7.469 6.623 5.929 6.353 Period 25 22.023 0.523 17.413 15.622 14.094 12.783 10.675 9.077 7.843 6 873 6.097 6.467 Period 30 26.808 22 396 19.600 17.292 15.372 13.765 11 2589,427 8.055 7.003 6.177 5.517 Period 40 32.835 27355|23.115 19.793 17.159 16.046 11.925 97798.244 7.105 8.233 6,548 3.326 3.605 3.837 4,031 4.192 4327 4,439 4.533 4.611 4675 4,870 4.948 4.979 4.997 Print Done (Click the icon to view the present value of an annuity table.) (Click the icon to view the present value tal (CE i Reference - X und e ne Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.857 0.826 0.797 0.769 0.743 0.718 0.694 Period 3 0.971 0.942 | 0.915 0.889 0.864 0.840 0.794 0.751 0.712 0.675 0.641 0.609 0.579 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.735 0.683 0.636 0.592 0.652 0.516 0.482 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.402 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.335 Period 7 0.933 0.871 0.813 0.760 0.711 0.665 0.583 0.513 0.452 0.400 0.354 0.314 0.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.540 0.467 0.404 0.351 0.305 0.266 0.233 Period 9 0.914 0.837 0.766 0.703 0.645 0.592 0.500 0.424 0.361 0.308 0.263 0.226 0.194 Period 10 0.905 0.820 0.744 0.676 0.614 0.558 0.463 0.386 0.322 0.270 0.227 0.191 0.162 Period 11 0.896 0.804 0.722 0.650 0.585 0.627 0.429 0.350 0.287 0.237 0.195 0.162 0.135 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.397 0.319 0.257 0.208 0.168 0.137 0.112 Period 130.879 0.773 0.681 0.601 0.530 0.469 0.368 0.290 0.229 0.182 0.145 0.116 0.093 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.340 0.263 0.205 0.160 0.125 0.099 0.078 Period 15 0.861 0.743 0.642 0.556 0.481 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 Period 200.820 0.673 0.564 0.456 0.377 0.312 0.215 0.149 0.104 0.073 0.051 0.037 0.026 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.146 0.092 0.059 0.038 0.024 0.016 0.010 Period 30 0.742 0.552 0.412 0.308 0.231 0.174 0,099 0.067 0.033 0.0200.0120.007 0.004 Period 40 0.672 0.453 0.307 0.208 0.142 0.097 0.046 0.022 0.011 0.005 0.003 0.001 0.001 Print Done 15 UNS ves Click the icon to view the present lue of an innuity table Click the icon to view the present value table - X * Reference Future Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Period 2 2010 2020 2030 2040 2.050 2.060 2.080 2100 2.120 2140 2. 160 2.180 2.200 Period 3 3.030 3,060 3.091 3.122 3.153 3.184 3.246 3.310 3.374 3.440 3.506 3.572 3.640 Period 4 4060 4.122 4.184 4246 4310 4.375 4,506 4.641 4.779 4.921 5,066 5.215 5.368 Period 5 5.101 5.204 5.309 5.416 5.526 5.637 5.867 6.105 6.353 6.610 6.877 7.154 7,442 Period 6 6.152 6.308 6.468 6633 6.802 6.975 7.336 7.716 8. 115 8.536 8.977 9.442 9.930 Period 7 7.214 7.434 7.662 7 898 8.142 8.394 8.923 9.487 10.089 10.730 11.414 12.142 1291 Period 8 8.286 8.583 8.992 9214 9.549 9.897 10.637 11.436 12.300 13.233 14.240 15.327 16.490 Period 9 9.369 9.755 10.159 10.583 11.027 11491 12.488 13.579 14.776 16.085 17.519 19.086 20.799 Period 10 10.462 1095011464 12.006 12.578 13.181 14.48715.93717 549 19,337 21.321 23.521 25.959 period 11 11.567 12.169 12.808 13.486 14 207 14.972 16.845 18.531 20.655 23.045 25.733 28.755 32.150 Period 12 12 683 13.412 14. 192 16.026 15.917 16.870 18 977 21.384 24. 133 27 271 30.850 34.931 39.581 Period 13 13.809 14.680 15.618 16.627 17.713 18.882 21.495 24 523 28.029 32 089 36.786 42.219 48.497 Period 14 14.94715.97417 086 18.292 19.599 21.015 24 215 27 97532.393 37.581 43.872 50.818 59.196 Period 15 16.097 17.29318.59920.024 21.579 23 276 27.152 31.772 37 280 43.842 51.660 60.965 72.03 Period 20 22.019 24 297 26.870 29.778 33,066 36.786 45.762 67 27572 052 91.025 115 380 145.628 186.68 Period 25 28 243 32 03036.46041848 47 727 54 866 73.106 98.347 133 334 181.871 249.214 342.803 471.98 Period 30 34.785 40.568 4757656 085 68.439 79.058 113.283 164 494241.333 356.787 530.312 790.948 1.181.84 Period 40 48.88660.402 75.401 95.026120.800 154.762 259 057 442.593 767 0911 342 0252,360 7674 163 213 7,343.8 Print Done Finteranu na AlClick the icon to view the presentavalue of an annuitable vestment Click the icon to the present value table i Reference - Future Value of $1 1% Periods Period 1 Period 2 Period 3 Period 4 Period 5 2% 1,020 1.040 1.061 1.082 1.104 4% 1.040 1.082 1.125 1.170 1.217 5% 6% 1.050 1.060 1.103 1.124 1.158 1191 1.216 1.262 1.276 1.338 8% 1.080 1.166 1260 1.360 1.469 1.010 1.020 1.030 1.041 1.051 1.062 1072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 1.126 1.149 1.172 1.195 1 219 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 20 Period 25 Period 30 Period 40 3% 1.030 1.061 1.093 1.126 1.159 1.194 1.230 1 267 1.306 1 344 1.384 1.426 1469 1513 1.558 1.340 1.407 1.477 1:551 1.629 1.265 1 316 1.359 1.423 1.480 1.539 1.601 1.666 1 732 1 801 10% 12% 14% 16% 18% 20% 1.100 1.120 1.140 1.160 1.180 1.200 1.210 1.254 1.300 1.346 1.392 1.440 1.331 1.405 1482 1.561 1.643 1.728 1.484 1.574 1.689 1.811 1.939 2074 1.611 1.762 1.925 2.100 2.288 2488 1.772 1.974 2.195 2.436 2.700 2.986 1.949 2.211 2.502 2.826 3.185 3.583 2.144 2.476 2.853 3.278 3.759 4300 2.358 2.773 3.252 3.803 4.435 5.160 2.594 3.106 3.707 4411 5.234 6.192 2853 3.479 4.226 5.117 6.176 7430 3.138 3.896 4 818 5.936 7.288 8.916 3.452 4.383 5 492 6.886 8,599 10.699 3.797 4.887 6.261 7988 10.147 12839 4 177 6.474 7.138 9 266 11 974 15.407 6.727 9.646 13.743 19,461 27.393 38.338 10.836 17.000 26.462 40.97462.669 95.396 17 449 29 960 50.950 85.850 143,371 237376 45 269 93 051188 884378 721750 3781,469.772 1 243 1.268 1.294 1 319 1 346 1.486 1.641 1 811 2 208 1419 1.587 1.504 1.714 1.594 1.851 1.689 1.999 1.791 2.159 1.898 2332 2012 2.518 2133 2720 2.261 2937 2.397 3.172 3.207 4661 4292 6.848 5.743 10083 10 286 21.725 1.710 1.796 1.886 1.980 2.079 2653 3396 4322 7.040 1.220 1.282 1 348 1.489 1.808 2094 2427 3262 2. 191 2666 3243 4.801 Print Done