a proposed project requires an initial cash outlay of $75,000 for equipment and an additional cash outlay at the end of year 1 of $25,000 to cover operating costs. during years 2 through 4, the project will generate cash inflows of $50,000 a year, all cash flows recognized at the end of the year. what is the net present value of this project at a discount rate of 12.2 percent?