Question: Please show all work and do not use excel since that is not how I'm supposed to learn the material. 1. A machine costs $1,000

Please show all work and do not use excel since that is not how I'm supposed to learn the material.

1. A machine costs $1,000 and has a 3 year life. The estimated salvage value at the end of three years is $100. The project will generate after tax cash flows of $600 per year. If the required rate of return is 10%, what is the NPV of the project?

a. $1,567

b. $567

c. $900

d. $492

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