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Kipling Company invested in an 8-year project. It is expected that the annual cash flow from the project, net of income taxes, will be $20,000. Information on present value factors is as follows:
Assuming that Kipling based its investment decision on an internal rate of return of 12%, how much did the project cost? A. $ 80,800 B. $160,000 C. $ 64,640 D. $ 99,360 |