1.

East Coast Television is considering a project with an initial outlay of$X (you will have to determine thisamount). It is expected that the project will produce a positive cash flow of $45,000 a year at the end of each year for the next 17years. The appropriate discount rate for this project is 11 percent. If the project has an internal rate of return of 13 percent, what is theproject's net presentvalue?

a. f the project has an internal rate of return of 13%, then theproject's initial outlay is $ ?