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Net present value: Modena Art Gallery is adding to its existing buildings at a cost of $2 million. The gallery expects to bring in additional cash flows of $520,000, $700,000, and $1,000,000 over the next three years. Given a required rate of return of 10 percent, what is the NPV of this project?
Personally Liable
The responsibility of an individual to fulfill debt or obligations from their own assets, rather than those of a corporation or entity.
Gross Returns
The total return on an investment before any deductions are made for costs or fees.
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A formalized record of a contract or arrangement between parties, documented in written form.
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