Problem C-2A Consider present value (LOC-2, C-3) Bruce is considering the purchase of a restaurant named...

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Problem C-2A Consider present value (LOC-2, C-3) Bruce is considering the purchase of a restaurant named Hard Rock Hollywood. The restaurant is listed for sale at $1,010,000. With the help of his accountant, Bruce projects the net cash flows (cash inflows less cash outflows) from the restaurant to be the following amounts over the next 10 years: Amount Years 1-6 $ 81,000 (each year) 7 91,000 8 101,000 9 10 111,000 121,000 Bruce expects to sell the restaurant after 10 years for an estimated $1,110,000. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Required: 1-a. Calculate the total present value of the net cash flows if Bruce wants to make at least 11% annually on his investment. (Assume all cash flows occur at the end of each year.) Answer is complete but not entirely correct. Total present value $ -76,490.90 Problem C-2A Consider present value (LOC-2, C-3) Bruce is considering the purchase of a restaurant named Hard Rock Hollywood. The restaurant is listed for sale at $1,010,000. With the help of his accountant, Bruce projects the net cash flows (cash inflows less cash outflows) from the restaurant to be the following amounts over the next 10 years: Amount Years 1-6 $ 81,000 (each year) 7 91,000 8 101,000 9 10 111,000 121,000 Bruce expects to sell the restaurant after 10 years for an estimated $1,110,000. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Required: 1-a. Calculate the total present value of the net cash flows if Bruce wants to make at least 11% annually on his investment. (Assume all cash flows occur at the end of each year.) Answer is complete but not entirely correct. Total present value $ -76,490.90