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You are evaluating a new product expected to generate cash inflows of $3,643 annually for five years, starting one year from now. Six years from

You are evaluating a new product expected to generate cash inflows of $3,643 annually for five years, starting one year from now. Six years from now, the project will end and will provide a final cash flow of $9,311. The project requires an investment of $15,698 today. What is the net present value of this project if the required rate of return is 5.0 percent?

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