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Consider a project with next-period free cash flows of $83,000 in a downturn or $121,000 in an upturn. The likelihood of the upturn is 45%.

Consider a project with next-period free cash flows of $83,000 in a downturn or $121,000 in an upturn. The likelihood of the upturn is 45%. The project requires a capital outlay of $40,000, its cost o...

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