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M Corporation has provided the following data concerning an investment project that it is considering:
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| Initial investment | $ | 380,000 | |
| Annual cash flow | $ | 124,000 | per year |
| Expected life of the project | | 4 | years |
| Discount rate | | 10 | % |
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Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided.
The net present value of the project is closest to:
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