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Extreme Bikes, Inc., is developing a new road bike. Development will take four years and the cost is $2 million per year (these amounts are

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Extreme Bikes, Inc., is developing a new road bike. Development will take four years and the cost is $2 million per year (these amounts are incurred at the end of each of the years from one to four). Once in production, the bike is expected to make $3 million per year for 15 years. The cash inflows begin at the end of year five. Assume the discount rate is 10% The NPV of this investment opportunity in millions of dollars (rounded to two decimal places) (Input your response without the \$ sign.) The IRR os this investment opportunity in percent is . (Round it two decimal places and input your response without the percent sign.)

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