The owners of Les Tigres de Trois-Rivires hockey club are considering a deal with an older, established club whereby they can acquire the services of Pierre Luc, a very high scorer and great gate attraction, in exchange for Robert McCain (currently paid $15,000 annually). The established club would also receive $500,000 cash from Les Tigres. The owners' accountants have assembled the following data: Estimated useful life of Luc Estimated residual value of Luc Estimated useful life of McCain Estimated residual value of McCain 5 years $20,000 5 years Current cash offer for McCain received from another club Applicable desired rate of return None $50,000 10% Other information: Additional Gate Additional Expenses of Year Luc's Salary Receipts Because of Luc Handling Higher Volume 1 $60,000 $330,000 $33,000 2 70,000 300,000 30,000 3 80,000 200,000 20,000 4 80,000 100,000 10,000 5 72,000 40,000 4,000 Click here to view PV table. Based on your analysis of the data, calculate the net present value of Luc's services. (For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124. If the net present value is negative, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Net present value $ Recommend whether or not the club should acquire the services of Pierre Luc. The hockey club acquire the services of Luc