Consider the following investment project.

Suppose the company's reinvestment opportunities change over the life of the project as shown in Table P5.12 (i.e., the firm's MARR changes over the life of the project). For example, the company can invest funds available now at 10% for the first year, 11 % for the second year, and so forth. Calculate the net present worth of this investment and determine the acceptability of the investment.

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1 -$42,000 32,400 33,400 32,500 32,500 33,000 10% 3 13 15 12