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Apple Inc., is considering a new three - year expansion project that requires an initial fixed asset investment of $ 1 . 4 million. The

Apple Inc., is considering a new three-year expansion project that requires an
initial fixed asset investment of $1.4 million. The fixed asset will be depreciated
straight-line to zero over its 3-year tax life, after which it will be worthless. The
project is estimated to generate $1,120,000 in annual sales, with costs of $480,000.
The tax rate is 35% and the required return is 12%. What is the projects NPV?
Show your workings and round your final answers to 2 decimal places. Could you please help me find project's NPV?

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