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1. A pine plantation returns nothing to its owner in the first 2 years. In the following 2 years, the returns are $100,000 and $150,000,

1.A pine plantation returns nothing to its owner in the first 2 years. In the following 2 years, the returns are $100,000 and $150,000, respectively. The returns can be invested at 8% per annum. What is the the present value to the owner ?

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