A company is developing a special vehicle for Arctic exploration. The development requires an initial investment of $65.

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A company is developing a special vehicle for Arctic exploration. The development requires an initial investment of $65.000 and investments of $51.000 and $41.000 for the next two years, respectively. net returns beginning in 4 year are expected to be $23,000 per year for 14 years. If the company requires a rate of return of 8%, compute the net present value of the project and determine whether the company should undertake the project.