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3. A project requires an initial investment of $ 1,000,000 and generates annual income of $ 300,000 for the next 4 years with a salvage

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3. A project requires an initial investment of $ 1,000,000 and generates annual income of $ 300,000 for the next 4 years with a salvage value of $ 200,000. At MARR of 10% determine if this is a good investment. Use MACRS with the depreciation life of 3 years. Effective tax rate is 40%.Use PW

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