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A firm has a capital structure of 100% equity. An analyst has estimated the firm's beta as 1.20, and current market conditions feature a risk-free

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A firm has a capital structure of 100% equity. An analyst has estimated the firm's beta as 1.20, and current market conditions feature a risk-free rate of 2%, and a market portfolio risk premium of 6%. The firm is considering the following project: - Invest $60 million today - The project will have a cash flow of $5 million in the first year, and cash flows will grow by 5% each year for a 20 -year period. What is projected NPV for this project

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