Answer:
$19,385.93
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.  
NPV can be calculated using a financial calculator  
Cash flow in year 0 = $-48,000. 
Cash flow in year 1 = $18,000. 
Cash flow in year 2 = $22,000. 
Cash flow in year 3 = $25,000. 
Cash flow in year 4 = $12,000. 
Cash flow in year 5 = $7,000. 
I = 9%
NPV = $19,385.93
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  
3. Press compute