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Murray Company is considering a project that requires an initial investment of $180,000 and will generate net cash flows for $48,000 per year for 6

Murray Company is considering a project that requires an initial investment of $180,000 and will generate net cash flows for $48,000 per year for 6 years. Murray requires a return of 9% on its investments. If the present value factor of an annuity for 6 years at 9% is 4.4859, the projects net present value of the investment (rounded to the nearest dollar) is $35,323. True or False

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