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A government agency has a new hydroelectric project that will take 15 years to build before it provides any benefits. The net present value of

  1. A government agency has a new hydroelectric project that will take 15 years to build before it provides any benefits. The net present value of the project will be highest under which of the following discount rates?
  2. a.10 percent
  3. b.11 percent
  4. c.9 percent
  5. d.8 percent

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