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Managerial Accounting
Six years ago, Torrence Hardware paid a contractor $45,000 to expand the store. At that time, the company calculated a net present value of about $6,000 for the expansion. Now, the company believes that the investment increased annual cash inflows by $8,000 per year for each of the six years. Torrence has a desired rate of return of 10%. What was the net present value actually achieved for this capital investment?
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