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If Haversham Technologies purchases $ 3 6 1 , 4 0 0 of new equipment, they can lower annual operating costs by $ 1 1

If Haversham Technologies purchases $361,400 of new equipment, they can lower annual operating costs by $111,500. The equipment will be depreciated straight-line to a zero book value over its 3-year life. Ignore bonus depreciation. At the end of the project, the equipment will be sold for $62,000. The company must invest $45,600 in Net Working Capital during the project. What is the NPV if the discount rate is 9 percent and the tax rate is 21 percent?
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