O come, Thou Dayspring, from on high, And cheer us by Thy drawing nigh;
Disperse the gloomy clouds of night,
And death's dark shadows put to flight.
Rejoice! Rejoice! Emmanuel
Shall come to thee, O Israel.

O come, Thou Key of David, come
And open wide our heav'nly home;
Make safe the way that leads on high,
And close the path to misery.
Rejoice! Rejoice! Emmanuel
Shall come to thee, O Israel.

O come, Adonai, Lord of might,
Who to Thy tribes, on Sinai's height,
In ancient times didst give the law
In cloud and majesty and awe.
Rejoice! Rejoice! Emmanuel
Shall come to thee, O Israel.

Problem 9-5. net present value and taxes [lo 1, 2] penguin productions is evaluating a film project. the president of penguin estimates that the film will cost $20,000,000 to produce. in its first year, the film is expected to generate $16,500,000 in net revenue, after which the film will be released to video. video is expected to generate $10,000,000 in net revenue in its first year, $2,500,000 in its second year, and $1,000,000 in its third year. for tax purposes, amortization of the cost of the film will be $12,000,000 in year 1 and $8,000,000 in year 2. the company’s tax rate is 35 percent, and the company requires a 12 percent rate of return on its films. required what is the net present value of the film project? to simplify, assume that all outlays to produce the film occur at time 0. should the company produce the film?