Problem:
Hyat Hotels is considering a 5-year project with an initial cost of $87,000. The project will produce cash inflows of $24,800 a year over the life of the project.
Required:
Question: What is the net present value if the required rate of return is 14.2 percent?
Choose one:
A. -$12,407.16
B. -$2,267.25
C. $28,874.31
D. $37,000.00