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1 Chapter 14: Applying Excel 2 Data 3 Example E 4 Cost of equipment needed $260,000 5 Working capital needed $60,000 6 Overhaul of equipment in four years $20,000 7 Salvage value of the equipment in five years$25,000 8 Annual revenues and costs: 9 Sales revenues $415,000 10 Cost of goods sold $240,000 11 Out-of-pocket operating costs $90,000 12 Discount rate 17 % 13 a. What is the net present value of the project? (Negative amount should be indicated by a minus sign. Round your present value factor to 3 decimals and round all other intermediate calculations to nearest whole dollar.) c. The internal rate of return is between what two whole discount rates (e.g., between 10% and 11%, between 11% and 12%, between 12% and 13%, between 13% and 14%, etc.)