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Cepeda Manufacturing Company is considering a new project that requires an equipment investment of $22,000. The project will last for 3 years and produce the

Cepeda Manufacturing Company is considering a new project that requires an equipment investment of $22,000. The project will last for 3 years and produce the following cash inflows.

Year 1 $7,000

Year 2 $9,000

Year 3 $15,000

Compute the net present value of this project assuming a discount rate of 12%.

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