Star City is considering an investment in the community center that is expected to return the following cash flows. Use Exhibit A.8.

Year	Net Cash Flow
1	$	29,000
2		59,000
3		89,000
4		89,000
5		109,000

This schedule includes all cash inflows from the project, which will also require an immediate $209,000 cash outlay. The city is tax-exempt; therefore, taxes need not be considered.

Required:

a. What is the net present value of the project if the appropriate discount rate is 24 percent? (Round PV factor to 3 decimal places. Negative amount should be indicated by a minus sign.)

b. What is the net present value of the project if the appropriate discount rate is 14 percent? (Round PV factor to 3 decimal places.)