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Project Alpha expects to generate $54,000 in cash flows over 2 years (compared to $56,000 over 3 years for Project Zed). It has the same

Project Alpha expects to generate $54,000 in cash flows over 2 years (compared to $56,000 over 3 years for Project Zed). It has the same exact initial investment ($35k) and rate of return (12%), yet has a higher NPV than project Zed. How is this possible?

Time Value of Money Rate of Return Tax Benefits Increased ECF Decreased r

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