The following data are accumulated by Geddes Company in evaluating the purchase of $120,000 of equipment, having a four-year useful life: Net Income Net Cash Flow Year 1 $43,500 $73,500 Year 2 27,000 57,000 Year 3 19,000 49,000 Year 4 3,500 33,500 a. Assuming that the desired rate of return is 15%, determine the net present value for the proposal. If required, round to the nearest dollar. Net present value b. Would management be likely to look with favor on the proposal? the net present value indicates that the return on the proposal is I than the minimum desired rate of return of 15%