2. (Ignore income taxes in this problem.) ABC Co. is considering an investment opportunity having cash flows as described below: Project II would require cash outlays of $3,000 per year and would...

2. (Ignore income taxes in this problem.) ABC Co. is considering an investment opportunity having cash flows as described below:

Project II would require cash outlays of $3,000 per year and would provide a cash inflow of $30,000 at the end of 8 years.

Required:

If ABC Co. has a required rate of return of 14%, determine if the project is acceptable. Use the NPV method.