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1. Consider a project with the following cash flows: Year Cash Flow 0 -12,000 1 3000 2 3000 3 3000 4 3000 The discount rate

1.

Consider a project with the following cash flows:

Year

Cash Flow

0

-12,000

1

3000

2

3000

3

3000

4

3000

The discount rate for this project is 13%. The net present value (NPV) is ________.

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