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An analyst is evaluating a 3-year project with the following characteristics: Discount rate: 9.4% Initial investment: $4 million Expected cash inflows for project: Year 1:

An analyst is evaluating a 3-year project with the following characteristics: Discount rate: 9.4%

Initial investment: $4 million

Expected cash inflows for project: Year 1: $3.7 million Year 2: $3.6 million Year 3: $4.9 million

What is the project's EAA?

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