You own a large collection of fine wines. You are considering liquidating these assets. You predict that the value of your collection will rise in the next few years. The following are your estimates:
Year...................Est value
Today.................70,000
1....................... 88,000
2...................... 104,000
3 ......................119,000
4 ......................132,000
5 ......................142,000
6 ......................150,000
If you assume your cost of capital to be 10 percent, when should you sell your collection to maximize your NPV?