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Your company is considering a capital investment of $120 million. The project will produce equal annual operating cash flows over its five-year life. At the

Your company is considering a capital investment of $120 million. The project will produce equal annual operating cash flows over its five-year life. At the end of five years it will be sold for $40 million, $20 million above its adjusted tax basis. The project has no affect on working capital. Your company has a 35% marginal tax rate and a 15% WACC. What annual OCFs are needed to make the NPV = 0?

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