Take a Load Off Hotels is considering the construction of a new hotel for $$12,800,000.$ The expected life of the hotel is $8$ years with no residual value. The hotel is expected to earn revenues of $$9,984,000$ per year. Total expenses, including straight$-$line depreciation, are expected to be $$8,000,000$ per year. Take a Load Off's management has set a minimum acceptable rate of return of $12\%.$

a$.$ Determine the equal annual net cash flows from operating the hotel.

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b$.$ Calculate the net present value of the new hotel, using the present value factor of an annuity of $$1$ table below. If required, round to the nearest dollar. If the net present value is negative, enter the amount using a minus sign.

$\backslash$table$[[$Present Value of an Annuity of $$1$ at Compound Interest$],[$Year$,6\%,10\%,12\%,15\%,20\%$