Problem 11-13 Economic Rents The following table shows the expected cash flows from a project. There are no cash flows beyond year 4. The cost of capital is 7%. a. Calculate the project''s NPV. Note: Do not round your intermediate calculations. Enter your answer in thousands rounded to nearest whole number. b. Calculate the economic rent in year 1. Note: Do not round your intermediate calculations. Enter your answer in thousands rounded to 2 decimal places. Cash flows ($000s) co C1 c2 C3 Cc4 -485 156 170 165 160 Q Answer is complete but not entirely correct. a. Project's NPV $ 66 @ b. Economic rent in 1 Year $ 1021