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You are planning a new project that is to be entirely financed by issuing new debt. The project will require $20.00 million in financing and

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You are planning a new project that is to be entirely financed by issuing new debt. The project will require $20.00 million in financing and you estimate its NPV to be $15.000 million. The issue costs for the debt will be 3.0% of face value. Taking into account the costs of external financing, what is the NPV of the project

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