Calculate NPV, business and finance assignment help

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Please show all work, step by step /formulas if you use excel. I need to be able to break down the work

Blue Wolf Restaurant is considering the purchase of a $10,700 soufflé maker. The soufflé maker has an economic life of four years and will be fully depreciated by the straight-line method. The machine will produce 2,350 soufflés per year, with each costing $2.75 to make and priced at $5.60. Assume that the discount rate is 14 percent and the tax rate is 40 percent.

 

What is the NPV of the project? (Do not round intermediate calculations and round your answer to 2 decimal places (e.g., 32.16).)

 

 NPV $  

 

Should the company make the purchase?
Yes
No