Company ABC decided to invest in a project that will earn an income of $25,000 in the first year of operation. ABC expects that the income will decline at a rate of 5% per year thereafter because of...

Company ABC decided to invest in a project that will earn an income of $25,000 in the first year of operation. ABC expects that the income will decline at a rate of 5% per year thereafter because of increased competition. If the interest rate is 2%, calculate the value of the project.