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A project requires an immediate investment of 12 million and an additional investment of 1 million per year for 5 years starting at the end

A project requires an immediate investment of 12 million and an additional investment of 1 million per year for 5 years starting at the end of year 1. The project will generate free cash flows(ignoring the investment cash flows) of 1.5 million in year 1, growing 2% per year perpetually. The cost of capital is 10%.

Calculate the NPV of this project.

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