Question: please explain step by step QUESTION 5 A company is thinking about marketing a new product. Up-front costs to market and develop the product are

please explain step by step

QUESTION 5 A company is thinking about marketing a new product. Up-front costs to market and develop the product are $12.52 Million The product is expected to generate profits of $1.48 million per year for 28 years. The company will have to provide product support expected to cost $323,420 per year in perpetuity. Furthermore, the company expects to invest $42,064 per year for 10 years for renovations on the product. This investing would start at the end of year 6. Assume all profits and expenses occur at the end of the year. Calculate the NPV of this project if the interest rate is 6.04%. NOTE: Answer in S. If your answer is 220M, you must answer 220000000.0000 HINT. Compute the present value of all cash flows and then combine them

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