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The working capital account on the project's balance sheet is zero at year 0 and year 1. At year 2 the working capital account on

The working capital account on the project's balance sheet is zero at year 0 and year 1. At year 2 the working capital account on the project's balance sheet is equal to $30 million and will decline by $10 million per year afterward. (The WC will therefore be zero at time 5). Assume again the cash flows happen at the end of each year

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