Stanton Company is performing a post-audit of a project completed one year ago. The initial estimates were that the project would cost $490,000, would have a useful life of 9 years, zero salvage value, and would result in net annual cash flows of $90,000 per year. Now that the investment has been in operation for 1 year, revised figures indicate that it actually cost $510,000, will have a useful life of 11 years, and will produce net annual cash flows of $77,000 per year. Assume a discount rate of 10% Periods 2 3 4 5 6 7 8 9 10 490 .96154 .92456 88900 .85480 .82193 -79031 .75992 73069 .70259 .67556 .64958 .62460 .60057 57748 .55526 53391 .51337 49363 47464 .45639 5% .95238 90703 .86384 82270 -78353 .74622 .71068 .67684 .64461 61391 58468 55684 53032 50507 :48102 .45811 43630 -41552 .39573 37689 69 94340 .89000 83962 .79209 .74726 70496 .66506 .62741 .59190 55839 52679 49697 .46884 .44230 41727 39365 37136 35034 .33051 31180 794 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 0.29586 0.27615 0.25842 8 92593 85734 .79383 73503 68058 .63017 .58349 54027 50025 .46319 42888 .39711 .36770 34046 31524 .29189 27027 25025 23171 21455 9% 91743 .84168 .77218 .70843 .64993 59627 .54703 .50187 46043 42241 .38753 35554 32618 .29925 27454 25187 23107 21199 .19449 .17843 10% 90909 82645 .75132 .68301 .62092 .56447 151316 46651 .42410 38554 35049 31863 28966 .26333 23939 21763 .19785 .17986 .16351 .14864 11% 90090 81162 73119 65873 .59345 53464 48166 43393 39092 35218 31728 28584 .25751 23199 20900 .18829 .16963 .15282 13768 .12403 1296 15 .89286 86957 .79719 -75614 71178 .65752 .63552 57175 56743 49718 50663 43233 45235 37594 40388 32690 36061 28426 32197 24719 28748 21494 25668 .18691 .22917 16253 20462 14133 .18270 12289 -16312 -10687 .14564 .09293 13004 08081 .11611 AC 107027 Vindows 10367061101 SW 11 12 13 14 15 16 17 18 19 20 1:11 () Payments 1 2 3 4 5 6 7 8 9 10 59 69 96154 95238 .94340 1.88609 1.85941 1.83339 2.77509 2.72325 2.67301 3.62990 3.54595 3.46511 4.45182 4.32948 4.21236 5.24214 5.07569 4.91732 6.00205 5.78637 5.58238 6.73274 6.46321 6.20979 7.43533 7.10782 6.80169 8.11090 7.72173 7.36009 8.76048 8.30641 7.88687 9.38507 8.86325 8.38384 9.985659.39357 8.85268 10.56312 9.89864 9.29498 11.11839 10.37966 9.71225 11.65230 10.83777 10.10590 12.16567 11.27407 10.47726 12.65930 11.68959 10.82760 13.13394 12.08532 11.15812 13.59033 12.46221 11.46992 79 89 99 10% 119 129 1596 0.93458 92593 91743 .90909 90090 89286 86957 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.62571 2.62432 2.57710 2.53130 2.48685 2.44371 2.40183 2.28323 3.38721 3.31213 3.23972 3.16986 3.10245 3.03735 2.85498 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 3.35216 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.78448 5.38929 5.20637 5.032954,86842 4.71220 4.56376 4.16042 5.97130 5.74664 5.53482 5.33493 5.146124.96764 4.48732 6.51523 6.24689 5.99525 5.759025.53705 5.32825 4.77158 7.02358 6.71008 6.417666.14457 5.88923 5.650225.01877 7.49867 7.13896 6.80519 6,49506 6.206525.93770 5.23371 7.94269 7.53608 7.16073 6.81369 6,49236 6.19437 5.42062 8.35765 7.90378 7.486907.10336 6.74987 6.42355 558315 8.74547 8.24424 7078615 7.36669 6.98187 6.62817 5.72448 9.10791 8.55948 8.06069 7.60608 7.19087 6,81086 5.84737 9.446658.85137 8.312567.82371 7.37916 6.97399 5.95424 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 6.04716 10.05909 9.37189 8.75563 8.20141 7.701627.24967612797 Vindows 10.33560 9.60360 8950128.364927.839297.365786,19823 10.59401 9.81815 9.12855 8.51356 7.96333 7.46914 6.25933 12 13 14 15 16 17 18 19 20 Calculate the net present value. (Use the above table.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to decimal places, eg. 5,275.) Original estimate Revised estimate $ $ Net present value Which project is successful