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A company is developing a special vehicle for Arctic exploration. The development requires an initial investment of $70,000 and investments of $51,000 and $40,000 for
A company is developing a special vehicle for Arctic exploration. The development requires an initial investment of $70,000 and investments of $51,000 and $40,000 for the next two years, respectively. Net returns beginning in Year 4 are expected to be $37,000 per year for 13 years. If the company requires a rate of return of 14%, compute the net present value of the project and determine whether the company should undertake the project. The net present value of the project is $ (Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.) The company undertake the project
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