Question: A 10-year construction project requires one year to finalize permits and other pre-construction site planning tasks. (Assume that this was funded by a separate pre-construction

A 10-year construction project requires one year to finalize permits and other pre-construction site planning tasks. (Assume that this was funded by a separate pre-construction loan.)At the end of the first year, construction launch requires $26.1M to cover labor and materials. The project receives the same funding disbursement at the end of each year thereafter for the remaining 9 years, but increased by 3.2% per year based on the forecasted labor and material inflation rate.The applicable interest rate is 26.9%.Determine the total loan value at the project launch and round your result to the nearest dollar, if applicable.

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