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An investors required rate of return for the following cash flow stream is 14%:
Year 0 = $5,000 ; Year 1-3 = $8,000 ; Year 4 = $12,000
If payment is made at the end of each period, the present value of the cash flow stream is?
a. $ 29.805.60b. $ 64,700.00c. $ 29,191.60d. $ 34,219.20
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