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Down Under Boomerang, Inc., is considering a new three - year expansion project that requires an initial fixed asset investment of $ 2 . 8

Down Under Boomerang, Inc., is considering a new three-year expansion project that
requires an initial fixed asset investment of $2.88 million. The fixed asset will be
depreciated straight-line to zero over its three-year tax life, after which time it will be
worthless. The project is estimated to generate $2,140,000 in annual sales, with costs of
$835,000. The tax rate is 21 percent and the required return is 10 percent. What is the
project's NPV?(Do not round intermediate calculations and round your answer to 2
decimal places, e.g.,32.16.)
NPV
$,2,061,775.98
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