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%. Present Value of an $1 n/i 12% 1396 14% 15% 1 0.893 0.877 0.87 0.885 0.783 2 0.797 0.769 0.756 3 0.712 0.693 0.675 0.658 4 0.636 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 0.877 0.87 0.885 1.668 N 1.69 1.647 1.626 3 2.402 2.361 2.322 2.283 4 2.974 2.855 3.037 3.605 2.914 3.433 5 3.517 3.352 The net present value of the project is