The Hudson Corporation makes an investment of $61,500 that provides the following cash flow:

Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year	Cash Flow
1		$ 29,000
2		29,000
3		17,000

a.	What is the net present value at a discount rate of 6 percent? (Do not round intermediate calculations and round your answer to 2 decimal places.)

Net present value