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20. Wyatt oil is considering drilling a new oil well that is initially expected to produce oil at a rate of 10 million barrels per

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20. Wyatt oil is considering drilling a new oil well that is initially expected to produce oil at a rate of 10 million barrels per year in the first year of operation. Wyatt has a long-term contract that allows them to sell the oil at a profit of $2.50 per barrel. The cost of drilling the rig is $175,000,000 in time t=0 dollars. If the rate of oil production from the rig declines by 3% each year and the appropriate interest rate is 9% per year, compounded annually, what is the Net Present Value of this new oil well

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