Birkenstock is considering an investment in a nylon-knitting machine. The machine requires an initial investment of $27,000, has a 5-year life, and has no residual value at the end of the 5 years. The company’s cost of capital is 10.87%. 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 Most likely Pessimistic Optimistic Year $ 9,250 $6,750 $11,750 7,250 10,250 13,250 11,750 8,750 15,750 4 7,750 10,750 12,750 5,750 8,750 7,750 3.