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Nolland Co. is expected to provide cash flows of $10000, $9100, $14000, and $9000 over the next 4 years. At a required return of 8.4%,

Nolland Co. is expected to provide cash flows of $10000, $9100, $14000, and $9000 over the next 4 years. At a required return of 8.4%, the company has a profitability index of 1.2. What is the company's initial cost at time 0? (Round your answer to 2 decimals)

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