Problem:
The ABC Company is considering a new project which will require an initial cash investment of $6,291. The project will produce no cash flows for the first 5 years. The projected cash flows for years 6 through 9 are $2,530, $4,457, $6,743, and $4,256, respectively. If the appropriate discount rate is 10%,
Required:
Question: Compute the NPV of the project.
Note: Please explain comprehensively and give step by step solution.