Tamarisk recently invested in a project with a 3-year life span. The net present value was $8800 and annual cash inflows were $28000 for year 1; $30000 for year 2; and $32000 for year 3. The initial investment for the project, assuming a 15% required rate of return, was Present Value PV of an Annuity Year of 1 at 15% of 1 at 15% 1 0.870 0.870 2 0.756 1.626 3 0.658 2.283