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16. You are offered an investment that will pay you $200 in one year, $400 the next year, $600 the next year and $800 at

16. You are offered an investment that will pay you $200 in one year, $400 the next year, $600 the next year and $800 at the end of the fourth year. You can earn 12 percent on very similar investments. What is the most you should pay for this one?

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