Patterson Co $\begin{array}{lcccc}r & 10.00 \% \\\text { Year } & 0 & 1 & 2 & 3 \\\text { Cash flows } & -\$ 950 & \$ 500 & \$ 400 & \$ 300\end{array}$

Patterson Co. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's NPV? Note that a project's expected NPV can be negative, in which case it will be rejected. $\begin{array}{lcccc}r & 10.00 \% \\\text { Year } & 0 & 1 & 2 & 3 \\\text { Cash flows } & -\$ 950 & \$ 500 & \$ 400 & \$ 300\end{array}$

A) $54.62
B) $57.49
C) $60.52
D) $63.54
E) $66.72

Correct Answer:

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