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Do not round intermediate calculations. Round your answer to the nearest cent. $ eBook NPV A project has an initial cost of $70,000, expected net

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Do not round intermediate calculations. Round your answer to the nearest cent. $

eBook NPV A project has an initial cost of $70,000, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 12%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent.

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