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Kappa Holdings is looking at a new system with an installed cost of $700,000. This cost will be depreciated straight-line to zero over the

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Kappa Holdings is looking at a new system with an installed cost of $700,000. This cost will be depreciated straight-line to zero over the project's 6-year life, at the end of which the system can be salvaged for $94,000. The system will save the firm $201,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $53,000, which will be returned at the end of the project. If the tax rate is 24 percent and the discount rate is 9 percent, what is the NPV of this project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV

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