Question: A firm is considering a new project that will require an immediate cash outlay of $9 million for equipment and $488,000 for a new heating

A firm is considering a new project that will require an immediate cash outlay of $9 million for equipment and $488,000 for a new heating system for the building. The firm already owns the building which cost $4.90 million 7 years ago and is currently used for storage. What is the net cash flow in year zero for the purposes of capital budgeting?

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