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Polington Aircraft Co. just announced a sale of 30 aircraft to Cuba, a project with a net present value of $10 million. Investors did not anticipate the sale because government approval to sell to Cuba had never before been granted. The share price of Polington should: A. not necessarily change because new contract announcements are made all the time. B. increase by the project NPV divided by the number of common shares outstanding. C. increase by the NPV × (1 – corporate tax rate) divided by the number of common shares outstanding. |