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The future cash flows of a stand-alone capital project follow: Year 0 1 2 3 Cash flow ($5,000) $ 3 ,500 $2,500 $ 3 ,500

The future cash flows of a stand-alone capital project follow:

Year

0

1

2

3

Cash flow

($5,000)

$3,500

$2,500

$3,500

If the company's cost of capital is 12%, what is the approximate NPV of the project?

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