In an assignment where you are given free cash flow from


In an assignment where you are given free cash flow from year 0 to year 4 where year 0 is the initial investment required to generate free cash flows for years 1-4 and a case where theres a possibility of 80% chance of success and 20% chance of failure, with the main goal of calculating the NPV, do you have have to adjust for risk for year 0's initial investment or do you only adjust for risk for years 1-4?

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Financial Management: In an assignment where you are given free cash flow from
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