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The Casale Company recently invested in a project with a 3-year life span. The initial investment was $15,060 and the annual cash inflows were $7,000

The Casale Company recently invested in a project with a 3-year life span. The initial investment was $15,060 and the annual cash inflows were $7,000 for year 1; $8,000 for year 2; and $9,000 for year 3. The company expects a 15% required rate of return. What is the net present value of the project?

a.

$12,000

b.

$15,264

c.

$2,994

d.

$9,744

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