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Jefferson Corporation is considering an expansion project. The necessary equipment could be purchased for $10 million and shipping and installation costs are another $200,000. The

Jefferson Corporation is considering an expansion project. The necessary equipment could be purchased for $10 million and shipping and installation costs are another $200,000. The project will also require an initial $1 million investment in net working capital. The company's tax rate is 37%. What is the project's initial investment outlay?

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