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A 5-year project has a risk-adjusted discount rate of 5% p.a. The investment would be needed right away (i.e., in 2020 ), and sales will occur from 2021 to 2025. You've already crunched the numbers and found the cash flows (CF) associated with the project, which are shown below. For simplicity, assume the given CF are in dollars (i.e., not thousands nor millions of dollars)