Assume the following circumstances in review question 8: You have $10 million of capital available to
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Assume the following circumstances in review question 8:
You have $10 million of capital available to pursue this project.
Predevelopment costs excluding land are expected to be $5 million.
There is a 40 percent chance the project will progress to construction.
The bank will not lend unless you have “control of the land.”
Do these facts affect your decision?
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