Hi my dear assistant. The following word problem is from a strategic financial management class. Don't provide the answer but do your best to explain to me step by step how to solve: 1. A project has an initial cost of $45,000, expected net cash inflows of $10,000 per year for 8 years, and a cost of capital of 14%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent. Do not include the following keywords: inflow, hint, class, cash
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