Your firm is evaluating a capital budgeting project. The estimated cash flows appear below. The board of directors

wants to know the expected impact on shareholder wealth. Knowing that the estimated impact on shareholder

wealth equates to net present value $($NPV$),$ you use your handy calculator to compute the value. What is the

project's NPV$?$ Assume that the cash flows occur at the end of each year. The discount rate $($i$.$e$.,$ required rate of

retum, hurdle rate$)$ is $15\mathrm{.}1\%.($Round to nearest penny$)$

Year $0$ cash flow

$-118,000$

Year $1$ cash flow

$52,000$

Year $2$ cash flow

$44,000$

$5$

$3$ cash flow

$60,000$

Year $4$ cash flow

$47,000$

Year $5$ cash flow

$28,000$