Consider a project with costs of $39 million total in 6 years. Assuming that the costs are paid the last day of the last year, the present discounted value of these costs, using a 5% discount rate is ___ million: Please explain the process to finding the answer as well.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 16EA: Project B cost $5,000 and will generate after-tax net cash inflows of $500 in year one, $1,200 in...
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Consider a project with costs of $39 million total in 6 years. Assuming that the costs are paid the last day of the last year, the present discounted value of these costs, using a 5% discount rate is ___ million:

Please explain the process to finding the answer as well.

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