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Duc - ee s Ltd . is considering a project that requires an investment cost of $ 1 0 million today. The project is expected

Duc-ees Ltd. is considering a project that requires an investment cost of $10 million today. The project is expected to generate a cash flow of $12 million in one year. Assume that a discount rate of 10% applies to all cash flows pertaining to the project. Suppose that Duc-ees Ltd. has no cash in hand. The firm instead can issue a financial claim priced $10 million today that promises to pay investors $11 million in one year. How much is the project worth, net of the cost, in terms of the present value today (in $ million, rounded to 3 decimal places)?

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