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Walker, Inc., is an all-equity firm. the cost of the company's equity is currently 11.9 percent and the risk-free rate is 3.5 percent. the company

Walker, Inc., is an all-equity firm. the cost of the company's equity is currently 11.9 percent and the risk-free rate is 3.5 percent. the company is currently considering a project that will cost $11.4 million and last 6 years. the company uses straight-line depreciaiton. the project will generate revenues minus expenses each year in the amount of $3.8 million. If the company has a tax rate of 23 percent, what is the net present value of the project?

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