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(Ignore income taxes in this problem.) Nevus Tattoo Parlor is considering a capital budgeting project. This project will initially require a $23,500 investment in equipment and a $5,200 working capital investment. The useful life of this project is 7 years with an expected salvage value of zero on the equipment. The working capital will be released at the end of the 7 years. The new system is expected to generate net cash inflows of $15,600 per year in each of the 7 years. Nevus' discount rate is 11%. The net present value of this project is closest to: a. $(48,679.6) b. $50,007.2 c. $46,242.6 d. $47,313.6

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