CBF has a project with $150,000 in depreciation expense each year, no changes in net working capital each year, and initial capital expenditures of $350,000. The project is expected to last for two years. 

If the discount rate is 9%, what constant level of unlevered net income results in a NPV of 0 for this project?

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To calculate the constant level of unlevered net income that results in a net present value NPV of 0 ... View the full answer