Using a cost of capital of 16%, calculate the net present value for the project shown in the following table and indicate whether it is acceptable,

The net present value (NPV) of the project is?

Initial investment

(CF0)

1,144,000

Year

(t)

Cash inflows

(CFt)

1

$83,000

2

$136,000

3

$194,000

4

$257,000

5

$310,000

6

$380,000

7

$276,000

8

$98,000

9

$43,000

10

$24,000