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A small industrial machine costs $86,000 and is expected to earn annual net cash inflows of $37,800, $34,400, $31,000 and $27,500, before it wears out

A small industrial machine costs $86,000 and is expected to earn annual net cash inflows of $37,800, $34,400, $31,000 and $27,500, before it wears out sufficiently to be unreliable and must be sold for an estimated $8,600. If funds earn 11 per cent, what is its NPV?

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