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PEP Corp, is evaluating a new manufacturing location. The company purchased land three years ago for $3.0 million for future site consideration, and the land

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PEP Corp, is evaluating a new manufacturing location. The company purchased land three years ago for $3.0 million for future site consideration, and the land now has a market value is $3.2 million. The building and equipment will cost $6.8 million, and engineering and site preparation cost will be $.8 million. The company also incurred a cost of $.6 million for a project feasibility study two years ago. What is the proper cash flow amount to use as the initial investment (period 0) in evaluating the project? $10.6 million $11.4 milion $10.8 million $11.2 million

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