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Darin Clay, the CFO of Make Money.com, has to decide between the following two projects: Year Project Million 0-$2.000 1 lo- 240 2 1,040 3
Darin Clay, the CFO of Make Money.com, has to decide between the following two projects: Year Project Million 0-$2.000 1 lo- 240 2 1,040 3 1.600 Project Billion -$10 10-800 1.600 2.400 The expected rate of return for either of the two projects is 14 percent. What is the range of Initial Investment (lo) for which Project Billion is more financially attractive than Project Million? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16.) Initial investment
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