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You specialize in starting up restaurant chains and selling them 1 year later for their present value. If you set up a Waffle House in

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You specialize in starting up restaurant chains and selling them 1 year later for their present value. If you set up a Waffle House in downtown Nacogdoches initially costing $1,000,000 with operating cash flows of $150,000 every year forever, what is your rate of return (IRR) and NPV when you sell it one year later? Assume a required return (cost of capital) of 10%

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