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ABC Corporation is considering an expansion project. The necessary equipment could be purchased for $20,674 and shipping and installation costs are another $1,082. The project

ABC Corporation is considering an expansion project. The necessary equipment could be purchased for $20,674 and shipping and installation costs are another $1,082. The project will also require an initial $4,904 investment in net working capital. The company's tax rate is 40%. What is the project's initial investment outlay?

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