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The project has the following information: straight-line depreciation to zero, Initial investment in fixed assets = $20,000; required level of net working capital = $5,000;

The project has the following information: straight-line depreciation to zero,
Initial investment in fixed assets = $20,000; required level of
net working capital = $5,000; life = 4 years; Sales = $17,000 per year;
total annual costs=$7000, no salvage value; tax rate = 35%.
What is NPV if the discount rate = 18%

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