Johnson Industries is considering an expansion project. The necessary equipment could be purchased for $9 million, and
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Johnson Industries is considering an expansion project. The necessary equipment could be purchased for $9 million, and the project would also require an initial $3 million investment in net operating working capital. The company’s tax rate is 40 percent. What is the project’s initial investment outlay?
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Related Book For 
Financial management theory and practice
ISBN: 978-0324422696
12th Edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
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