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The Company is considering a new project of 3 years. The initial investment on the the machine costs $380,190, and will be depreciated on a

The Company is considering a new project of 3 years. The initial investment on the the machine costs $380,190, and will be depreciated on a straight-line basis to zero over the project life. The machine will become worthless in the end. The project will brings in annual operating cash flow of $220,110. It also requires an additional investment in net working capital of $4,000 initially, which will be fully recovered at the end of the project. The tax rate is 28%. The discount rate is 15%. Please compute the NPV of this project.

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