=+2 Highflyer ple has two possible projects to consider. It cannot do both - they are mutu-

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=+2 Highflyer ple has two possible projects to consider. It cannot do both - they are mutu-

ally exclusive. The cash flows are:

Points in time (yearly intervals)

Project A Project B 0

-420,000

-100,000 1

150,000 75,000 2

150,000 75,000 3

150,000 0

4 150,000 0

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