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1. Suppose the Boston Red Sox are deciding whether to renovate Fenway Park this offseason. The renovation will cost $120 million to complete. Analysis done

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1. Suppose the Boston Red Sox are deciding whether to renovate Fenway Park this offseason. The renovation will cost $120 million to complete. Analysis done by the Red Sox indicates that the renovation will increase revenue by $30 million per year for 5 years. If the interest rate is 12%, should the Red Sox undertake this renovation? Explain (using math and/or verbally)

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