A company can buy a machine that is expected to have athree-year life and a $34,000 salvage value. The machine will cost$1,816,000 and is expected to produce a $204,000 after-tax netincome to be received at the end of each year. If a table ofpresent values of 1 at 12% shows values of 0.8929 for one year,0.7972 for two years, and 0.7118 for three years, what is the netpresent value of the cash flows from the investment, discounted at12%?
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