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Mustang Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $273,000. The facility is to be fully depreciated on a straight-line

Mustang Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $273,000. The facility is to be fully depreciated on a straight-line basis over seven years. It is expected to have no resale value after the seven years. Operating revenues from the facility are expected to be $108,000, in nominal terms, at the end of the first year. The revenues are expected to increase at the inflation rate of 3 percent. Production costs at the end of the first year will be $33,000, in nominal terms, and they are expected to increase at 4 percent per year. The real discount rate is 6 percent. The corporate tax rate is 38 percent.

Calculate the NPV of the project.(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

I've calculated the NPV to be $462,441.66 and the professor has confirmed my spreadsheet is setup correctly but I LearnSmart homework page does not accept it as the right answer.

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