Problem:
A project has annual cash flows of $4,000 for the next 10 years and then $7,500 each year for the following 10 years. The IRR of this 20-year project is 12.59%. If the firm's WACC is 11%,
Required:
Question 1: What is the project's NPV? Round your answer to the nearest cent.
Note: Explain all calculation and formulas.