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Cont. # 4 : A project' capital costs are 2 0 , 0 0 0 and will require $ 2 , 0 0 0 of

Cont. #4: A project' capital costs are 20,000 and will require $2,000 of working capital. The working
capital will be recaptured at the end. The project will provide $9,000 in after-tax operating cash flows for
4 years. What is the NPV?
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