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LakeCraft is considering investing in a transport ship with an expected life of 10 years that costs $80 million and will produce net cash flows

LakeCraft is considering investing in a transport ship with an expected life of 10 years that costs $80 million and will produce net cash flows of $9 million per year. LakeCraft's cost of capital is 11%. Enter your answers rounded to 2 DECIMAL PLACES.

What is the payback period?

What is the net present value (NPV) of the project?

million (Enter your answer in millions of dollars)

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