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A company is evaluating an expansion. This capital investment will require a cash outflow today...

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Finance

A company is evaluating an expansion. This capital investment will require a cash outflow today of $12,000,000. The firm estimates that the investment will pay out a cash flow of $1,000,000 per year for the next 25 years, and then nothing after. The risk-adjusted discount rate required on this project is 9%, calculate the net present value of this investment. (Round to 2 decimals)

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