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Clarion Company is contemplating a $52,000 investment in new equipment that would reduce the company's operating costs by $15,000 per year over five years. If

Clarion Company is contemplating a $52,000 investment in new equipment that would reduce the company's operating costs by $15,000 per year over five years. If Clarion uses a hurdle rate of 10% to evaluate investments, what is the net present value of the investment in the new equipment?

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