value (LOC-2, C-3) Bruce is considering the purchase of a restaurant named Hard Rock Hollywood. The restaurant is listed for sale at $1,140,000. With the help of his accountant, Bruce projects the net cash flows (cash inflows less cash outflows) from the restaurant to be the following amounts over the next 10 years: Bruce expects to sell the restaurant after 10 years for an estimated $1,240,000. (FV of \$1, PV of \$1, FVA of \$1, and PVA of \$1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Required: 1-a. Calculate the total present value of the net cash flows if Bruce wants to make at least 11% annually on his investment. (Assume all cash flows occur at the end of each year.) 1-b. Should he purchase the restaurant? No Yes