DEFINITION of 'Adjusted Present Value  APV'
The Net Present Value (NPV) of a project if financed solely by equity plus the Present Value (PV) of any financing benefits (the additional effects of debt).
INVESTOPEDIA EXPLAINS 'Adjusted Present Value  APV'
By taking into account financing benefits, APV includes tax shields such as those provided by deductible interests.
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RELATED TERMS

Net Present Value  NPV
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Time Value of Money  TVM
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