Replacing old equipment at an immediate cost of $$120,000$ and an additional outlay of $$10,000$ five years from now will

result in savings of $$24,000$ per year for $9$ years. The required rate of return is $12\%$ compounded annually. Compute the n

present value and determine if the investment should be accepted or rejected according to the net present value criterion.

The net present value of the project is $

$($Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.$)$

The proposal should be $(1)$

$(1)$ accepted.

rejected.