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16. An investor is considering the purchase of a development property with the following pretax cash flows forecast: Initial outlay: $4,000, year one cash flow: $500 loss), year 2 cash flow: +$500, years 3-6 cash flow: $1,000 per year, year 7 cash flow: $2,500. For simplicity assume all cash flows occur at the end of each year. Calculate the NPV of this investment assuming the investor requires an 8% return. Should the project be undertaken