Year 5% 6% 4 3.546 3.465 5 7% 3.387 3.312 4.329 4.212 4.100 8% 3.993 5.076 4.917 4.767 4.623 Present Value of an Annuity of $1 at Compound Interest 9% 10% 11% 12% 13% 14% 15% 3.240 3.170 3.102 3.037 2.974 2.914 2.855 3.890 3.791 3.696 3.605 3.517 3.433 3.352 4.486 4.355 4.231 4.111 3.998 3.889 3.784 The company has a project with a 5-year life that requires an initial investment of $220,000, and is expected to yield annual cash flows of $59,500. What is the net present value of the project if the required rate of return is set at 10%? Calculation Steps Present Value of an Annuity of $1 at Compound Interest. Net Present Value = ( $ Note: Round your answer to the nearest whole dollar. What NPV does the previous calculation yield? x ) -