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The following data are accumulated by Geddes Company in evaluating the purchase of $140,000 of equipment, having a four-year useful life: Net Income Net Cash

The following data are accumulated by Geddes Company in evaluating the purchase of $140,000 of equipment, having a four-year useful life:

Net Income Net Cash Flow
Year 1 $42,000 $77,000
Year 2 26,500 61,500
Year 3 13,000 48,000
Year 4 4,000 39,000

Assuming that the desired rate of return is 15%, determine the net present value for the proposal. If required, round to the nearest dollar.

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