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Project L requires an initial outlay at t= 0 of $70,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC

Project L requires an initial outlay at t= 0 of $70,000, its expected cash inflows are \$12,000 per year for 9 years, and its WACC is 9%. What is the project's NPV? Do not round intermediate calculations. Round your answer to the nearest cent

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