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7. Ashlin, Inc., has one million shares outstanding but has never paid a dividend. It is expected to generate net (free) cash flows of $0

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7. Ashlin, Inc., has one million shares outstanding but has never paid a dividend. It is expected to generate net (free) cash flows of $0 at the end of Year 1, $300,000 at the end of Year 2, and $850,000 per year, forever, beginning at the end of Year 3. If investors expect a rate of return of 13%, what is the present value of Ashlin's stock

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