J & J Enterprises is considering a cash acquisition of Patterson Steel Company for $5,200,000. Patterson will provide the following pattern of cash inflows and synergistic benefits for the next 20 years. There is no tax loss carryforward. Use Appendix D as an approximate answer, but calculate your final answer using the formula and financial calculator methods. Years 1–5 6–15 16–20 Cash inflow (aftertax) $560,000 $720,000 $920,000 Synergistic benefits (aftertax) 52,000 72,000 82,000 The cost of capital for the acquiring firm is 14 percent. a. Compute the net present value. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Should the merger be undertaken? No Yes