East Coast Television is considering a project with an initial outlay of $X ( you will have to determine this amount) It is expected that the project will produce a positive cash flow of $60,000 a year at the end of each year for the next 16 years. The appropriate discount rate for this project is 11%. If the project has an internal rate of return of 16 percent, what is the present value?

Question

East Coast Television is considering a project with an initial outlay of $X ( you will have to determine this amount) It is expected that the project will produce a positive cash flow of  $60,000 a year at the end of each year for the next 16 years. The appropriate discount rate for this project is 11%. If the project has an internal rate of return of 16 percent, what is the present value?