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7. Business Processing Consultants (BPC), Inc. is interested in replacing its fully depreciated in-house computer capability with a five-year contract to use computer support from Amazon World Services. To do so the company must pay a charge of $600,000 at the end of the first year, and a subsequent annual fee for usage. Business Processing believes this improved capability will increase sales for the next five years. Their forecast projects net extra revenue each year (after subtracting Amazon's annual fee) to be as follows. End of First year +100,000 End of Second year +120,000 End of Third year +130,000 End of Fourth year + 205,000 End of Fifth year + 225,000 Determine the present value of this investment using an 7% discount rate