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You are the CEO of a microchip manufacturing companyYou know the cash flows of an investment in a new technology will be: - $ 3

You are the CEO of a microchip manufacturing companyYou know the cash flows of an investment in a new technology will be: -$35M cost of investment today (year O) The project will generate $20M annual after-tax cash flow for five (5) years At the end of 5 years, the project is terminated. After tax salvage value in year 5= $10M You could Invest in an alternative project with equivalent risk has an expected return of 9% What is the NPV of the ProjectState your answer in $Millions, do not use a $sign. Round to 2 decimals.

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