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) A capital budgeting project has an NPV of $1,000,000 and cash inflows of $300,000 per year for years t=1 through t=7. Assuming an 8%

) A capital budgeting project has an NPV of $1,000,000 and cash inflows of $300,000 per year for years t=1 through t=7. Assuming an 8% cost of capital, what is the initial outlay in year 0?

a. $987,310 b. $561,920 c. $300,000 d. $250,440

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