Problem $12-15($Algo$)$ Net present value method $[$LO$12-4]$

The Horizon Company will invest $$98,000$ in a temporary project that will generate the following cash inflows for the next three years.

Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

The firm will also be required to spend $$17,000$ to close down the project at the end of the three years.

a$.$ Compute the net present value if the cost of capital is $8$ percent.

Note: Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to

$2$ decimal places.

Net present value