what is the present worth of this investment?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter10: Capital Budgeting: Decision Criteria And Real Option
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A computerized wood lathe, costing P25,000, will be used to make ornamental parts for sale. Receipts are estimated at P60,000 per year with costs running P55,000 per year. The salvage value is P9,000 at the end of 10 years. If the MARR is 12%, what is the present worth of this investment?

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