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11. A real estate investment has the following expected cash flows: Year Cash flow 1. $38,187 2. $11,427 3. $49,102 4. $8,935 The discount rate

11. A real estate investment has the following expected cash flows:
Year Cash flow
1. $38,187
2. $11,427
3. $49,102
4. $8,935
The discount rate is 9.5%. Whats the investment present value?

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