You have inherited an apple orchard and want to sell it in the next four years. An expert in apple orchard valuation has estimated the after-tax cash flow you would receive if you sold at the end of each of the next four years as follows: $1,100,000 if you sell in one year; $1,400,000 if you sell in two years; $1,600,000 if you sell in three years; and $1,700,000 if you sell in four years. Your opportunity cost of capital is 8 percent. Calculate the NPV of each alternative.(Round intermediate calculations and final answers to the nearest whole dollar, e.g. 5,275.)

NPV₁$_______________

NPV₂$______________

NPV₃$_____________

NPV₄$_________________

When should you sell the orchard?

You should sell the orchard after_________________ (one year,two years,three years,four years)

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