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White Company's Required Rate of Return on Capital Budgeting Projects

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White Company's required rate of return on capital budgeting projects is 12%.The company is considering an investment opportunity that would yield a cash flow of $10,000 in five years.What is the most that the company should be willing to invest in this project? (Ignore income taxes in this problem.) (Round your PV factor to 5 decimal places and final answer to nearest whole dollar amount.)


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