Question: (Chapter 6) Lester's has a new project with projected real cash flows of $12,200, $14,600, and $16,300 for Years 1 to 3, respectively. The nominal

(Chapter 6) Lester's has a new project with projected real cash flows of $12,200, $14,600, and $16,300 for Years 1 to 3, respectively. The nominal discount rate is 7.92 percent and the inflation rate is 3.5 percent. What is the net present value of the project if the initial cost is $30,000? (Choose closest answer if necessary) $9.71164 $8.946.48 $9.507.50 $9.444.15 $9.250.29

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