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​(Related to Checkpoint 11.1 and Checkpoint​ 11.4)  ​(NPV and IRR​ calculation)  East Coast Television is considering...

​(Related to Checkpoint 11.1 and Checkpoint​ 11.4)  ​(NPV and IRR​ calculation)  East Coast Television is considering a project with an initial outlay of​ $X (you will have to determine this​ amount). It is expected that the project will produce a positive cash flow of ​$40,000 a year at the end of each year for the next 13 years. The appropriate discount rate for this project is 11 percent. If the project has an internal rate of return of 14 ​percent, what is the​ project's net present​ value?

a.  If the project has an internal rate of return of 14​%, then the​ project's initial outlay is $ ______ ​(Round to the nearest​ cent.) 

b.  If the discount rate is 11​%, then the​ project's NPV is ​$______ ​(Round to the nearest​ dollar.)   

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