The owner of the company you work for has presented you with data about a potential investment. Machine Original outlay (beginning of Year 1): $350 000 Expected net cash inflow: Year Amount 1 $45 000 2 $45 000 3 $55 000 4 $50 000 Salvage value (expected in year 4) $105 000 The owner of the company estimates the cost of capital to be 7%. The company has enough funds to meet all capital expenditure requirements. Required: a. Calculate the net present value for the investment and state (with a justification of your answer) whether it should be accepted (15 marks). Use the following present value table to help calculate your answer: Number of 7% $1 8% $1 9% $1 periods (1+k)n (1+k)n (1+k)n 1 0.935 0.926 0.909 2 0.873 0.857 0.826 3 0.816 0.794 0.751 4 0.762 0.735 0.683