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3. Frontier Landscaping owns some equipment that is used in their operations. Management estimates that the equipment will last three years and will generate the

3. Frontier Landscaping owns some equipment that is used in their operations. Management estimates that the equipment will last three years and will generate the following future cash flows at the end of each year:

Year 1: 4,000

Year 2: 6,000

Year 3: 7,000

Calculate the present value of the machine's future cash flows given a discount rate of 6%

a. $14,274

b. $14,991

c. $15,617

d. $19,319

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