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(1 point) A gold mine is expected to yield an annual income of $140000 for the next 28 years, after which it will be sold

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(1 point) A gold mine is expected to yield an annual income of $140000 for the next 28 years, after which it will be sold for $11200. An investor wants an annual return on his investment of 16%. If he can establish a sinking fund earning an annual interest rate of 8% , how much should he pay for the mine

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