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12. (Difficult) J. Kushner is to receive cash flows of $2.00 per year forever, starting in one year. The discount rate is 20% per year

12. (Difficult) J. Kushner is to receive cash flows of $2.00 per year forever, starting in one year. The discount rate is 20% per year for the first 3 years, thereafter the discount rate drops to 12% forever.All else being the same how much would you be willing to pay for this investment today?

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