I need the steps for calculating the following problem on a financial calculator

Question

I need the steps for calculating the following problem on a financial calculator (BA II Plus), please. I already have the answers and formulas, just looking specifically how to type on financial calculator. Thank you

Halcyon Lines is considering the purchase of a new bulk carrier for $8 million. The forecasted revenues are $5 million a year and operating costs are $4 million. A major refit costing $2 million will be required after both the fifth and tenth years. After 15 years, the ship is expected to be sold for scrap at $1.5 million. If the discount rate is 8%, what is the NPV?

Explanation / Answer

Follow the steps in BA II plus -

1 - 2ND CF

CF0 = -8 (outflow)

CF1 = 5 - 4 = 1

F01 (frequency) = No of years of the similar cash flows

CF5 = -2

CF10 = -2

CF15 = 1.5

After all the cash flows are feeded in - CPT NPV

I = 8%, Press the down arrow key andCPT NPV

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