Question: 23. Joe is considering purchasing a machine for se in his business that will cost $10,000. He anticipated selling this machine at the end of

23. Joe is considering purchasing a machine for se in his business that will cost $10,000. He anticipated selling this machine at the end of 5 years for $3,500. The machine is projected to produce the following cash flows End of year 1: $300 End of year 2: $600 End of year 3: $1,200 End of year 4: $2,400 End of year 5: $4,800 If Joes required rate of return is 12%, what is the net present value (NPV) of purchasing the machine?

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