Birkenstock is considering an investment in a nylon-knitting machine. The machine requires an initial investment of $25,000, has a 5-year life, and has no residual value at the end of the 5 years. The company's cost of capital is 12%. Known with less certainty are the actual after-tax cash inflows for each of the 5 years. The company has estimated expected cash inflows for three scenarios: pessimistic, most likely, and optimistic. These expected cash inflows are listed in the following table. Calculate the range for the NPV given each scenario.

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Expected cash inflows Pessimistic Most likely Optimistic S 8,000 9,000 10,500 9,500 6,500 Ycar 5,500 6,000 7,500 6,500 4,500 $10,500 12,000 14,500 11,500 7,500 4