Exhibit 8-1
a Project Requires an Initial Investment of $1,500,000 $( r = 10 \% )$

Exhibit 8-1
A project requires an initial investment of $1,500,000 and will return $420,000 each year for six years.
Factors: Present Value af an Annuity $( r = 10 \% )$
$\begin{array} { l l } \text { Year 1 } & 0.9091 \\ \text { Year 2 } & 1.7355 \\ \text { Year 3 } & 2.4869 \\ \text { Year 4 } & 3.1699 \\ \text { Year 5 } & 3.7908 \\ \text { Year 6 } & 4.3553 \end{array}$
-Refer to Exhibit 8-1.If taxes are ignored and the required rate of return is 10%,what is the project's net present value (rounded to the nearest dollar) ?

A) $1,262,910
B) $1,020,000
C) $329,226
D) $344,409
E) None of the answer choices is correct.