The initial investment on a project is $125,000. Following are the estimated annual cash inflows:

Year	Cash Flows
1	30,000
2	45,000
3	30,000
4	40,000
5	50,000

What is the NPV for this project using a discount rate of 9%?

Group of answer choices

$21,919

$23,845

$26,008

$24,398

If annual interest rates are 12%, which would be the best deal?

Group of answer choices

Purchase a piece of equipment outright for $1,235,000.

Lease it for 60 months, paying $25,500 at the end of each month.

Lease it for 48 months, paying $32,000 at the end of each month.

Lease it for 36 months, paying $37,000 at the beginning of each month.