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3. You expect to receive a lump sum of $120,000 from a previous real estate investment at the end of a five year time horizon.

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3. You expect to receive a lump sum of $120,000 from a previous real estate investment at the end of a five year time horizon. What is the estimated present value of that investment return; If the discount rate is 3% If the discount rate is 6% If the discount rate is 9% If the discount rate is 12%

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