Quillen Company is performing a post$-$audit of a project completed one year ago. The initial estimates were that the project would cost $$250,000,$ would have a useful life of $9$ years and zero salvage value, and would result in net annual cash flows of $$46,000$ per year. Now that the investment has been in operation for $1$ year, revised figures indicate that it actually cost $$260,000,$ will have a total useful life of $11$ years $($including the year just completed$),$ and will produce net annual cash flows of $$39,000$ per year. Click here to view PV table.

Evaluate the success of the project. Assume a discount rate of $10\%.(1$r the net present value is negative, use either a negative sign preceding the number eg $-45$ or parentheses eg $(45).$ Round present value answers to o decimol places, eg$.125.$ For calculation puiposes, use $5$ decimal places as dlsplayed in the factor table prowided.$)$

Original estimate net present value

Revised estimate net present value

$ $-$

$

The project $$ a success.