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What is amount of cash that hornet receives today

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Hornet Corporation has a loan agreement that provides it with cash today, and the company must pay $25,000 one year from today, $15,000 two years from today, and $5,000 three years from today. Hornet agrees to pay 10% interest. The following are factors from a present value table:

Period Interest Rate 10%
1 0.9091
2 0.8264
3 0.7513

What is the amount of cash that Hornet receives today?

Reference no: EM13137540

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