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You are thinking of buying a miniature golf course (for investment purposes). It is expected to generate a cash flow of $40,000 per year for

You are thinking of buying a miniature golf course (for investment purposes). It is expected to generate a cash flow of $40,000 per year for the first 4 years (years 1-4) and $50,000 for the next 4 years (years 5-8). If the appropriate discount rate is 10%, what is the present value of these cash flows?

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