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A company is evaluating an expansion.This capital investment will require a cash outflow today of $7,000,000.The firm estimates that the investment will pay out a

A company is evaluating an expansion.This capital investment will require a cash outflow today of $7,000,000.The firm estimates that the investment will pay out a cash flow of $975,000 per year for the next 15 years, and then nothing after.The risk adjusted discount rate required on this project is 11%, calculate the net present value of this investment. (Round to 2 decimals)

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