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Fly-Happy Airlines (FHA) is considering a project with the following cash flows: CFO CF1 ($8,000,000) $2,000,000 CF2

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Fly-Happy Airlines (FHA) is considering a project with the following cash flows: CFO CF1 ($8,000,000) $2,000,000 CF2 CF3 $3,400,000 $4,000,000 FHA has a policy of rejecting outright all projects that do not pay back within three years and analyzing those that do more carefully with time-value-based methods.

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