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Sheffield Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was

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Sheffield Co. purchased some equipment 3 years ago. The company's required rate of return is 12%, and the net present value of the project was $(900). Annual cost savings were: $30000 for year 1; $25000 for year 2 ; and $19000 for year 3 . The amount of the initial investment was $59343. $60950 $59150. $61143

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