The adjusted present value is a modified version of the Net Present Value (NPV) that incorporates the benefits and costs of borrowing. It is commonly used to determine the value of a debt-financed project or a company.
Some other related topics you might be interested to explore are Net Present Value, Present Value, and Cost of Debt.
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Adjusted present value is among the topics included in the Quantitative Methods module of the CFA Level 1 Curriculum.