You are considering purchasing a laundry$-$mat. The venture is expected to last $10$ years. The following information is available:

Year $1$ estimated financial statements are provided in Schedule A

Sales will grow by $10\%$ per year for the first $5$ years, and then grow by $1\%$ per year starting in year $6.$

All costs are variable, with the exception of depreciation which is straight lined over $10$ years.

Washers and Dryers costing $$400,000$ will be purchase immediately. These appliances have a salvage value of $$50,000$ at the end of their useful life.

On the very last day of year $5,$ all of the washers will require a major overhaul at a cost of $$80,000.$ The purpose of this overhaul is to restore the equipment to its original condition, and the overhaul will not extend the life of the equipment or change its salvage value.

$$20,000$ in cash and inventory needs to be kept on hand at all times.

Tax rate is $25\%.$ Other tax information is in Schedule B$.$

The investor is also considering another investment that will generate after$-$tax income of $10\%$

Required: Calculate the Net Present Value of this project.

Schedule A: Net Income$-$Year $1$

$\backslash$table$[[$Sales$,,230,000],[$Supplies expense,$20,000,],[$Utilities expense,$90,000,],[$Labour expense,$60,000,],[$Depreciation expense,$35,{000}_{?},],[$Total Expenses,,$205,{000}_{?}$