Replacing old equipment at an immed ate cost of $90,000 and an additonal outlay of $20,000 three years from now will result in savings of $22,000 per year for 8 years. The roguired rate of retum is 14% compounded annualily. Compute the net present value and determine if the investment should be accepted or rojocted according to the net present value criterion. The net present value of the project is 5 (Round the final answer to the nearest dollar as needed. Round all intecmedate values to six decimal places as needed.) The proposal shouid be