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Six years ago. Neighborhood Hardware paid a contractor $50,000 to expand the store. At that time, the company calculated a net present value of about

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Six years ago. Neighborhood Hardware paid a contractor $50,000 to expand the store. At that time, the company calculated a net present value of about $6.500 for the expansion. Now, the company believes that the investment increased annual cash inflows by $8.500 per year for each of the six years. The company has a desired rate of return of 10%. Ignoring income tax considerations, what was the net present value actually achieved for this capital investment? (PV of $1 and PVA of $1 ) (Use approprlate factor(s) from the tables provlded. Do not round your Intermedlate calculatlons. Round your answer to the nearest dollar.) Multiple Choice ($10,234) $37.020 ($3,250) ($12980)

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