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Pharoah Co. purchased equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(1100).

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Pharoah Co. purchased equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(1100). Annual cost savings were: $15000 for year 1; $13000 for year 2 ; and $11000 for year 3 . The amount of the initial investment was $30126. $30488. $32688 $32326

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