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The estimated annual cash flow for a proposed government project has an initial cost of $P , benefits of $685,000 per year, and disbenefits of

The estimated annual cash flow for a proposed government project has an initial cost of $P, benefits of $685,000 per year, and disbenefits of $220,000 per year. If the project is economically justified at 12% annual interest rate, determine the maximum value of P. Assume, an infinite life scenario.

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