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Duco is considering investing $500,000 in a project. The life of the project would be 9...

Duco is considering investing $500,000 in a project. The life of the project would be 9 years. The project would require an additional working capital of $50,000, which would be released for use elsewhere at the end of the project. The annual net cash inflows would be $150,000. The salvage value of the assets used in the project would be $5,000. The company uses a discount rate of 17%.

The Present Value of $1 at this rate is 0.243 and the Present Value of an Annuity of $1 in Arrears at this rate is 4.451.

Required (Show your work): Compute the net present value of the project

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