A project has estimated annual cash flows of $90,000 for 3 years and is estimated to cost $250,000. Assume a minimum acceptable rate of return of 10%. Using the following tables, determine (a) the net present value of the project and (b) the present value index, rounded to two decimal places.Following is a table for the present value of $1 at compound interest: 
Following is a table for the present value of an annuity of $1 at compound interest: 
Definitions:
Flood Coverage
A specific type of insurance policy provision that provides compensation for damage or loss to property as a result of flooding.
Reformation
A legal process to correct or modify an existing contract or document to accurately reflect the parties' intentions due to errors or misunderstandings.
Consequential Damages
Compensatory damages awarded in a lawsuit for losses that do not directly arise from the action but are a consequence of the action.
Policy Limits
The maximum amount an insurance company will pay under a policy for a covered loss.
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