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Problem 11-01 Investment Outlay Talbot Industries is considering launching a new product. The new manufacturing equipment will cost $9 million, and production and sales will

Problem 11-01 Investment Outlay

Talbot Industries is considering launching a new product. The new manufacturing equipment will cost $9 million, and production and sales will require an initial $1 million investment in net operating working capital. The company's tax rate is 30%.

What is the initial investment outlay? Write out your answer completely. For example, 2 million should be entered as 2,000,000.

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