For the following set of cash flows,
Year Cash Flow:
0......$9,400
1..........$5,200
2..........$5,200
3........$5,900
a. What is the NPV at a discount rate of 0 percent?
b. What is the NPV at a discount rate of 9 percent?
c. What is the NPV at a discount rate of 18 percent?
d. What is the NPV at a discount rate of 23 percent?