2. The project analyzed throughout most of the chapter, Table 12.1, leads to a strictly positive present
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2. The project analyzed throughout most of the chapter, Table 12.1, leads to a strictly positive present value. Yet the accounting library is slow to recognize this value, as in Table 12.4. Do the present value and accrual accounting renderings recognize the same cash flow? Why is the accounting treatment less aggressive in reporting the good news of a project with benefits significantly above its costs?
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