Twelve Inch Toes Corp. will invest $$210,000$ in a project that will not begin to produce returns until the third year. From the end of the third year until the end of the tenth year $(8$ periods$),$ the annual cash flow will be $$55,000.$

a$.$ Calculate the net present value if the cost of capital is $13$ percent. $($Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round other intermediate calculations and final answer to the nearest whole dollar. Negative answer should be indicated by a minus sign. Omit $ sign in your response.$)$

Net present value $

b$.$ Should the project be undertaken?

multiple choice

Yes

No