In almost every example so far, firms must decide to invest in a project immediately or not

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In almost every example so far, firms must decide to invest in a project immediately or not at all. But suppose that a firm could invest in a project today or it could wait one year before investing. How could you use NPV analysis to decide whether to invest now or later?
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Introduction to Corporate Finance

ISBN: 978-0324657937

2nd edition

Authors: Scott B. Smart, William L Megginson

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