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You have been issued a patent for a new product. You believe the patent will produce sales of $172,000 each year as long as the product remains in demand. Assume a discount rate of 8% compounded annually. What is the value today of having the patent, assuming sales last for (a) three years, (b) four years, or (c) five years? Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (EV of Sl, PV of S1, EVA or S1, and PVA of $11)