Snowbowi Resorts wants to create more snowmaking capacity on their ski mountain. This increase in capacity requires the purchase of additional snow-making equipment that will cost $691.000. Based on input from the Accounting Department, this would be depreciated on a straight line basis to zero over the 4-year life of this new snowmaking project. When the project is over, the equipment can be sold for $189,000. There is a need for additional networking capital at the beginning of the project in the amount of $59,000. This will be recovered at the end of the project. The operating cash flow will be $194,300 a year. Assume the appropriate discount rate is 11 percent and that the appropriate tax rate is 34 percent What is the net present value of this snowmaking project? Multiple Choice 0 O $27,904 0 $33.389 0 $31,004 0 $23.544 0 -526,160 Type here to search