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A project requires an initial investment of $10,000, straight-line depreciable to zero over 4 years. The discount rate is 10%. Your tax bracket is 34%

A project requires an initial investment of $10,000, straight-line
depreciable to zero over 4 years. The discount rate is 10%. Your tax
bracket is 34% and you receive a tax credit for negative earnings in
the year in which the loss occurs. Additional information for variables
with forecast error are shown below.
Base Lower Upper
Case Bound Bound
Unit Sales 3,000 2,750 3,250
Price/unit $14 $13 $16
Variable cost/unit $9 $8 $10
Fixed costs $9,000 $8,500 $10,000

What is the base case NPV for the project?

a 1523
b 4974
c 5247
d 6529
e 8281

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