Acme Company plans to invest $133,000 in new equipment that…
Acme Company plans to invest $133,000 in new equipment that has a useful life of 4 years and a salvage value of $20,000. Acme expects the new equipment to produce annual net cash inflows of $38,000 in Years 2 through 4. Assuming the project’s internal rate of return is 8%, what is the expected net cash inflow in year 1? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).