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10 Pts (Quantitative) A project requires an investment of $20 million today. Every year in the next 15 years the project will yield a cash

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10 Pts (Quantitative) A project requires an investment of $20 million today. Every year in the next 15 years the project will yield a cash flow of $5 million, with the first $5 million arriving one year from today. The beta of the project is 1.5. The risk-free interest rate is 1% and the expected return on the market portfolio is 10%. Assume that the CAPM holds. What is the NPV of the project? ANSWER Type your answer here

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