Lisa is pondering the construction and operation of a home-based cattery. She expects it will cost $15,000 to construct and will have a lifespan of four years before it collapses due to faulty construction and ammonia rot. Cash flows during those four glorious years are estimated as follows: 
If the interest rate is 5%, what is the present value of the cattery project?
Definitions:
Marginal Benefit
The additional satisfaction or utility that a person receives from consuming an extra unit of a good or service.
Marginal Cost
The cost increase resulting from the production of an extra unit of a product or service.
Part-Time Business
A venture or enterprise operated on a less than full-time basis, often alongside another job or personal commitments.
Marginal Cost
The cost added by producing one additional unit of a product or service, focusing on how cost changes with variations in output level.
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