Net present value: Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. This calls for acquiring machinery that would cost $1, 968,450. The machine will have a life of five years and will produce cash flows as shown in the table. What is the NPV if the discount rate is 15.9 percent?
year cash flow 1 $512,496 2 -242,637 3 814,558 4 887,225 5 712,642