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TABLE 1 Future Value of 1 TABLE 3 Present Value of 1 Culver Company is performing a post-audit of a project completed one year ago.

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image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed TABLE 1 Future Value of 1 TABLE 3 Present Value of 1 Culver Company is performing a post-audit of a project completed one year ago. The initial estimates were that the project would cost $585,000, would have a useful life of 9 years, zero salvage value, and would result in net annual cash flows of $109,000 per year. Now that the investment has been in operation for 1 year, revised figures indicate that it actually cost $637,000, will have a useful life of 11 years, and will produce net annual cash flows of $96,000 per year. Click here to view PV tables. Evaluate the success of the project. The company's discount rate is 10\%. (Use the above table.) (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275.) TABLE 2 Future Value of an Annuity of 1 TABLE 4 Present Value of an Annuity of 1

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