Please show all steps and what NPV formula is equal to

Compute the NPV for Project M if the appropriate cost of capital is 8 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Project M Time: Cash flow: 0 -$1,000 1 1 $350 2 $480 3 $520 4 $600 5 $100 Answer is complete but not entirely correct. NPV 1,565.61X Should the project be accepted or rejected? accepted rejected