Suppose a company has proposed a new 4-year project. The project has an initial outlay...
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Suppose a company has proposed a new 4-year project. The project has an initial outlay of $16,000 and has expected cash flows of $8,000 in year 1, $9,000 in year 2, $12,000 in year 3, and $13,000 in year 4. The required rate of return is 12% for projects at this company. What is the net present value for this project? (Answer to the nearest dollar.)
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