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A beauty product company is developing a new fragrance named Happy Forever. There is a probability of 0.47 that consumers will love Happy Forever, and

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A beauty product company is developing a new fragrance named Happy Forever. There is a probability of 0.47 that consumers will love Happy Forever, and in this case, annual sales will be 1.04 million bottles; a probability of 0.39 that consumers will find the smell acceptable and annual sales will be 177,000 bottles; and a probability of 0.14 that consumers will find the smell unpleasant and annual sales will be only 51,000 bottles. The selling price is $38, and the variable cost is $11 per bottle. Fixed production costs will be $1.07 million per year, and depreciation will be $1.18 million. Assume that the marginal tax rate is 27 percent. What are the expected annual incremental after-tax free cash flows from the new fragrance? (Round answer to 0 decimal places, e.3. 5.275.) Annual incremental cash flows

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