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Project L requires an initial outiay at t=0 of $40,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is

Project L requires an initial outiay at t=0 of $40,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 11%. What is the project's NPV?. Do not round intermediate calculations. Round your answer to the nearest cent

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