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10. An asset generates a cash flow of $2 million every 6 years continuing forever, with the first cash flow occurring in 3 years' time.

10. An asset generates a cash flow of $2 million every 6 years continuing forever, with the first cash flow occurring in 3 years' time. What is the value of the asset if the appropriate discount rate is 8% p.a. compounded semi-annually?

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