IMBourret Corporation has provided the following information
concerning a capital budgeting project:

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Question: IMBourret Corporation has provided the following information concerning a capital budgeting proje…
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  After-tax discount rate 13%  
  Tax rate 40%  
  Expected life of the project 4  
  Investment required in equipment $60,000  
  Salvage value of equipment $0  
  Annual sales $155,000  
  Annual cash operating expenses $115,000  
  One-time renovation expense in year 3 $20,000  

Click here to view Exhibit 13B-1 to determine the appropriate
discount factor(s) using tables.

The company uses straight-line depreciation on all equipment.
Assume cash flows occur at the end of the year except for the
initial investments. The company takes income taxes into account in
its capital budgeting.

The net present value of the project is closest to:

Im having trouble understanding how to find the present value
factor

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