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1 Izmir Estate is evaluating a new project. The initial investment required is $31,304.99 and the cost of capital is 5%. Expected cash flows over

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1 Izmir Estate is evaluating a new project. The initial investment required is $31,304.99 and the cost of capital is 5%. Expected cash flows over the next four years are given below: Years Cash Flow ($) 13,000 -16,000 37,000 115,000 What is the NPV of the project? 12 3 4

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