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ABC borrows $ 1 2 , 4 0 4 at a subsidized rate of 2 . 1 % to invest in a project. The project

ABC borrows $12,404 at a subsidized rate of 2.1% to invest in a project. The project lasts for 13 years and ABC repays the loan at the end of the project. If ABC's cost of debt is 6.7% and the tax rate is 33%, calculate the NPV of the this loan financing.

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