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10) A project costs $32,000, will be depreciated straight line to zero over its 3 year life, and will require a net working capital investment

10) A project costs $32,000, will be depreciated straight line to zero over its 3 year life, and will require a net working capital investment of $9,000 up front. The project generates OCF of $24,000 every year. The fixed assets sold for $6,000 at the end of the project. If the firm has a tax rate of 35% and a required return of 13%, what is the project NPV?

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