with 3. J&J Enterprises is considering a cash acquisition of Patterson Steel Company for $4,500,000. Patterson will provide the following pattern of cash inflows and synergistic benefits for the next 20 years. There is no tax loss carryforward. 1-5 $490,000 Years 6-15 $650,000 16-20 $850,000 Cash inflow (aftertax) The cost of capital for the acquiring firm is 12 percent. Compute the net pres- ent value. Should the merger be undertaken? (If you have difficulty with deferred time value of money problems, consult Chapter 9.)