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You are considering a 3-year project, which requires 2.7 million investment this year. The free cash flow in each of the following 3 years is

You are considering a 3-year project, which requires 2.7 million investment this year. The free cash flow in each of the following 3 years is 3.8 million. The cost of capital is 11%. Its equivalent annual benefit is closet to

a.

2.849 million

b.

3.800 million

c.

2.695 million

d.

2.123 million

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