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13) You are trying to evaluate expansion plans for HEB that will be financed with no debt. For this project the discount rate is 9%.

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13) You are trying to evaluate expansion plans for HEB that will be financed with no debt. For this project the discount rate is 9%. Your cash flows will be $1 M, $3 M, and $4 M for the first 3 years and grow at 3% from then on. If this expansion costs $50 M, what is the NPV? A) $0.7 M B) $5.2 M C) $9.6 M D) $25.2 M

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