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William is considering a project that would last for 3 years and have a cost of capital of 1 0 . 6 7 percent. The

William is considering a project that would last for 3 years and have a cost of capital of 10.67 percent. The relevant level of net working capital for the project is expected to be $9,020.00 immediately (at year 0); $32,800.00 in 1 year; $28,700.00 in 2 years; and $9,560.00 in 3 years. Relevant expected operating cash flows and cash flows from capital spending in years 0,1,2, and 3 are presented in the following table. What is the net present value of this project?
\table[[Year 0,Year 1,Year 2,Year 3],[Operating cash flows,$51,500.00,$51,500.00,$51,500.00
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