Simms Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $620,000 $400,000 Useful life 8 years 8 years Estimated annual net cash inflows for 8 years $130,000 $80,000 Residual value $0 SO Depreciation method Straight-line Straight-line Discount rate 996 10% What is the net present value of Proposal X, taking into consideration the initial outlay and the subsequent cash inflows? Present Value of an Annuity of S1 . 596 696 796 896 996 1096 S 6.463 6.210 5.971 3.747 5.535 5.335 9 7.108 6.802 6.515 6.247 5.995 5.759 10 7.722 7.360 7.024 6.710 6.418 6.145 $23,070 positive $99.550 positive $13,070 negative $4,130 negative