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A project requires an initial outlay of $500,000 and is expected to generate cash inflows of $150,000 per year for 6 years. At the end

A project requires an initial outlay of $500,000 and is expected to generate cash inflows of $150,000 per year for 6 years. At the end of the 6th year, the project's assets can be sold for a salvage value of $50,000. The firm's cost of capital is 8%.

Task: Determine the NPV of the project, including the salvage value.

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