Squiggy & Company is considering a capital budgeting project that would require an initial investment of $380,000. The investment would generate annual cash inflows of $160,000 for the life of the project, which is 3 years. At the end of the project, equipment that had been used in the project could be sold for $20,000. The company's discount rate is 13%. n/i Present Value of an $1 12% 13% 14% 0.893 0.885 0.877 15% 1 0.87 2 0.797 0.783 0.769 0.756 3 0.693 0.675 0.658 0.712 0.636 4 0.613 0.592 0.572 5 0.567 0.543 0.519 0.497 Present Value of an Ordinary Annuity n/i 12% 13% 14% 15% 1 0.893 0.885 0.877 0.87 2 1.69 1.668 1.647 1.626 3 2.402 2.361 2.322 2.283 4 3.037 2.974 2.914 2.855 5 3.605 3.517 3.433 3.352 2 The net present value of the project is