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BE12-6 Quillen Company is performing a post-audit of a project completed one year ago. The...

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Accounting

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BE12-6 Quillen Company is performing a post-audit of a project completed one year ago. The initial estimates were that the project would cost $250,000, would have a useful life of 9 years, zero salvage value, and would resul in net annual cash flows of $46,000 per year Now that the investment has been in operation for I year, revised figures indicate that it actually cost $260,000, will have a total useful life of I i years, and will produce net annual cash flows of $39,000 per year. Evaluate the success of the project. Assume a discount rate of 10%

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