(Ignore income taxes in this problem.) Farah Corporation has provided the following data concerning a...

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Accounting

(Ignore income taxes in this problem.) Farah Corporation has provided the following data concerning a proposed investment project:

Initial investment $ 440,000
Life of the project 8 years
Working capital required $ 14,000
Annual net cash inflows $ 88,000
Salvage value $ 44,000

The company uses a discount rate of 11%. The working capital would be released at the end of the project.

Required:

Compute the net present value of the project.

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