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Famous for their carrot cake, has decided to sell their industrial carrot shredder and create an immediate cash flow of $700. The sale of the equipment will however require that the bakery now manually shred their own carrots at a cost of $260 at the end of each year, beginning in one year, that’ll continue for a total of 3 consecutive years. Calculate the NPV of this project given a required rate of return of 17%.
Place your answer in dollars and cents. Do not include a dollar sign in your answer Work your analysis using at least least four places of accuracy.If applicable, place a negative answer with a minus sign in front of the number.