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Question 7 1 pts One year ago, you paid $15,000 for an empty plot of land but the current market value of the land is
Question 7 1 pts One year ago, you paid $15,000 for an empty plot of land but the current market value of the land is $18.000. Today, you are considering developing it into a parking lot. It will cost you $50.000 today to turn this land into a parking lot. As a parking lot, you anticipate that it will generate $8,000 in revenue each year forever, starting one year from today. The required return for this project is 14% annually. What is the NPV of turning the land into a parking lot? Round your answer to the nearest dollar and enter without $ sign. For example, enter 743 for $742.76
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