Use the following table, Present Value of an Annuity of 1

Periods		8%		9%		10%
1		.926		.917		.909
2		1.783		1.759		1.736
3		2.577		2.531		2.487

A company has a minimum required rate of return of 9%. It is considering investing in a project which costs $840,000 and is expected to generate cash inflows of $336,000 at the end of each year for three years. The net present value of this project is

$850,416.

$504,000.

$85,032.

$10,416.