Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,968,450, have a life of five years, and would produce the cash flows shown in the following table. What is the NPV if the discount rate is 15.9 percent?
Year Cash Flow
1 ....................... $512,496
2 .......................$(242,637)
3 ....................... $814,558
4 ....................... $887,225
5 ....................... $712,642