Question: Please do not use am excel function to solve this. The NPV function does not return the correct number. P11-1 (similar to) Question Help *

Please do not use am excel function to solve this. The NPV function does not return the correct number.

P11-1 (similar to) Question Help * (Related to Checkpoint 11.1) (Net present value calculation) Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $4,000,000 and would generate annual net cash inflows of $1,200,000 per year for 7 years. Calculate the projects NPV using a discount rate of 8 percent. If the discount rate is 8 percent, then the project's NPV is $ (Round to the nearest dollar)

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