A project has a cost of $1,400. Its net cash flows are expected to be $900, $1,000,

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A project has a cost of $1,400. Its net cash flows are expected to be $900, $1,000, and

$1,400 for each of the next 3 years. The respective certainty equivalent coefficients are estimated to be 0.75, 0.55, and 0.35. With a 6 percent risk-free discount rate, determine the certain net present value.

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