8. (A surprise) Consider a deterministic cash flow stream (...) with all pos- itive flows. Let PV(r)
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8. (A surprise) Consider a deterministic cash flow stream (...) with all pos- itive flows. Let PV(r) denote the present value of this stream at an interest rate
(a) If decreases, does PV(7) increase or decrease?
(b) Solve the Simplico gold mine problem with 4% and find that the value of the lease is $221 million Can you explain why the value decreased relative to its value with r = 10%?
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