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3. A project has estimated annual net cash flows of $8,000 for three years and is estimated to cost $19,000. Assume a minimum acceptable rate
3. A project has estimated annual net cash flows of $8,000 for three years and is estimated to cost $19,000. Assume a minimum acceptable rate of return of 10%. Using Exhibit 5 (p 1279), determine (a) the net present value of the project and (b) the present value index, rounded to two decimal places
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