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Darin Clay, the CFO of Make Money.com, has to decide between the following two projects: Project Year Million O $1,600 1 10+ 200 2 1,000
Darin Clay, the CFO of Make Money.com, has to decide between the following two projects: Project Year Million O $1,600 1 10+ 200 2 1,000 3 1,400 Project Billion -$10 10+ 600 1,400 2,000 The expected rate of return for either of the two projects is 13 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.)
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