You consider investing in a new project. To start the project, you need to pay $94 today. After this the project will pay a stream of cash flow that starts at $6 in a year and grows by 1% per year afterwards for 10 years (no cash-flows after that). Calculate the net present value of the project if your discount rate is 7% per year? (round your answer to the nearest penny)

Answer rating: 100% (QA)

Step 13 Net Present value Present value of Cash Inflows Initial Outlay Ste... View the full answer