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A company that manufactures automobiles has both experience and an undeveloped plan for creating a new and more efficient model. A manufacturer has promised the

A company that manufactures automobiles has both experience and an undeveloped plan for creating a new and more efficient model. A manufacturer has promised the firm $

4, 256, 000

for a working prototype with complete documentation four years from now. The Automotive Manufacturing firm hopes to gain

18 %

per year on its investment. How much can the Automotive Manufacturing firm afford to invest if the complete investment were made today?

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