I needed help with part d.

Net Present Value Method-Annuity Jones Excavation Company is planning an investment of $671,200 for a bulldozer. The bulldozer is expected to operate for 2,000 hours per year for six years. Customers will be charged $135 per hour for bulldozer work. The bulldozer operator costs $26 per hour in wages and benefits. The bulldozer is expected to require annual maintenance costing $20,000. The bulldozer uses fuel that is expected to cost $34 per hour of bulldozer operation. Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.037 2.855 2.589 5 4.212 3.791 3.605 3.353 2.991 6 4.917 4.355 4.111 3.785 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4.487 3.837 9 6.802 5.759 5.328 4.772 4.031 10 7.360 6.145 5.650 5.019 4.192 a. Determine the equal annual net cash flows from operating the bulldozer. Jones Excavation Company Equal Annual Net Cash Flows Cash inflows: Hours of operation 2,000 Revenue per hour 135 270,000 Revenue per year Cash outflows: Hours of operation 2,000 Fuel cost per hour 34 Labor cost per hour 26 Total fuel and labor costs per hour 60 Fuel and labor costs per year 120,000 Maintenance costs per year 20,000 Labor cost per hour 26 Total fuel and labor costs per hour Fuel and labor costs per year 120,000 Maintenance costs per year 20,000 Annual net cash flows 130,000 Feedback Check My Work a. Subtract the operating expenses (hourly fuel and labor costs, multiplied by the operating hours, plus the annual maintenance costs) from the revenues (operating hours multiplied by the hourly revenue). b. Determine the net present value of the investment, assuming that the desired rate of return is 6%. Use the present value of an annuity of $1 table above. Round to the nearest dollar. If required, use the minus sign to indicate a negative net present value. Present value of annual net cash flows 639,210 Amount to be invested 671,200 Net present value $ -31,990 c. Should Jones invest in the bulldozer, based on this analysis? No , because the bulldozer cost is more than the present value of the cash flows at the minimum desired rate of return of 6%. d. Determine the number of operating hours such that the present value of cash flows equals the amount to be invested. Round interim calculations and final answer to the nearest whole number. hours