A project has an initial cost of $54,650, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 11%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round your intermediate calculations. Round your answer to the nearest cent.
Net Present Value (NPV) = $22,868.67 OR $22869 (Approx.)
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