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An investment with an initial outlay of R500 000 generates five successive annual cash inflows of R75 000, R190 000, R40 000, R150 000 and

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An investment with an initial outlay of R500 000 generates five successive annual cash inflows of R75 000, R190 000, R40 000, R150 000 and R180 000 respectively. The cost of capital K is 10% per annum. The net present value (NPV) is approximately

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