To show the cell checking, put a check here:			x
Year	Cash Out	Cash In	Net Cash Flow	Present Value
0	$ (7,200,000.00)	$ -
1	$ (200,000.00)	$ 1,000,000.00
2	$ (200,000.00)	$ 1,000,000.00
3	$ (200,000.00)	$ 1,000,000.00
4	$ (200,000.00)	$ 1,000,000.00
5	$ (200,000.00)	$ 1,000,000.00
6	$ (200,000.00)	$ 1,000,000.00
7	$ (200,000.00)	$ 1,000,000.00
8	$ (200,000.00)	$ 1,000,000.00
9	$ (200,000.00)	$ 1,000,000.00
Rate	4.25%
Excel f(x)			Yes	No
Should the renovations be approved?