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Hotel is redoing its golf course at a cost of $2,820,000. It expects to generate cash flows of $400,000, $1,000,000, and $2,000,000, and $2,000,000 over

Hotel is redoing its golf course at a cost of $2,820,000. It expects to generate cash flows of $400,000, $1,000,000, and $2,000,000, and $2,000,000 over the next four years. If the appropriate discount rate for the firm is 25%, should the hotel accept this project?

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