The introduction of a new product will require an initial investment of $400,000. The annual profit expected

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The introduction of a new product will require an initial investment of $400,000. The annual profit expected from the new product is forecast to be $100,000 for Years 1 to 3, $70,000 for Years 4 to 6, and $50,000 for Years 7 to 12. Should the firm proceed with the investment if its required compound annual return is 15%?
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