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3 You take a partial ownership stake in a used book store which pays you 10 percent of all profits for the first five years.
3 You take a partial ownership stake in a used book store which pays you 10 percent of all profits for the first five years. In those five years you receive profit sharing checks as follows: $4,720, $7,290, $12,400, $15,330, and $21,490. Using a competitive interest rate of 6 percent, what should you have paid, at maximum, for your 10 percent share?
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