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4. (25) Suppose you have a project that requires an initial investment of $350,000 now, research costs of $200,000 at the end of this year,

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4. (25) Suppose you have a project that requires an initial investment of $350,000 now, research costs of $200,000 at the end of this year, and another $200,000 at the end of the following year. The required return for this research phase of the project is 25%. The project's second marketing phase will be a success with 70% probability or a failure with 30% probability. If a success, you will invest another $300,000 at the end of year 3 and receive $500,000 at the end of each of the following 5 years (years 4, 5, 6, 7 and 8). If a failure, you will only invest $100,000 at the end of year 3 and receive $100,000 at the end of each of the following 5 years. If the required rate of return for the second phase is 10%, should you accept the project

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