The Horizon Company will invest $98,000 in a temporary project that will generate the following cash inflows for the next three years. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year	Cash Flow
1		$	35,000
2			32,000
3			78,000

The firm will also be required to spend $17,000 to close down the project at the end of the three years.

a. Compute the net present value if the cost of capital is 8 percent. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places.)

Net present value

b. Should the investment be undertaken? Yes or No?

Please us a step by step solution using a calculator. Thanks