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What happens to the NPV of the following cash flows at three

different levels of discount rates: 8%, 12%, and 15% ?

Year 0 Year 1 Year 2 Year 3 Year 4
-$300 +$100 +$100 +$100 +$100

When using the NPV function of excel, please make sure

that the initial investment is on its own (and deducted after).

Provide your calculations.

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