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6. KBC owns a Copper mining company and is considering opening a new mine. The mine is expected to generate $10,000 for the next 21

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6. KBC owns a Copper mining company and is considering opening a new mine. The mine is expected to generate $10,000 for the next 21 years. After 21 years, the Copper is expected to be depleted. Assume there is no salvage value from the project. If the cost of capital is 8%, what is the most KBC should invest to open the mining operation at time 0? [10 marks]

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