A firm has installed a manufacturing line for packaging materials. The firm plans to produce 45 tons of packing peanuts at $4000 per ton annually for 3 years, and then 60 tons of packing peanuts per...

A firm has installed a manufacturing line for packaging materials. The firm plans to produce 45 tons of packing peanuts at $4000 per ton annually for 3 years, and then 60 tons of packing peanuts per year at $5000 per ton for the next 5 years. What is the present worth of the expected income? The firm’s interest rate is 15% per year.