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A business is considering purchasing a machine that is projected to yield cash, savings of $1,000 per year over a 10-year period. Using a 12

A business is considering purchasing a machine that is projected to yield cash, savings of $1,000 per year over a 10-year period. Using a 12 percent discount rate, calculate the present value of the savings. (Assume that the cash savings occur at the end of each year).

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