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A company is considering entering into a new marketing campaign. If it engages in this marketing campaign, it must pay $ 7 , 0 0

A company is considering entering into a new marketing campaign. If it engages in this marketing campaign, it must pay $7,000 immediately and $5,000 each at the end of year 1 and year 2. The company believes its annual revenues due to the marketing campaign will be $9,000 at the end of year 1, $7,000 at the end of year 2, and $4,000 at the end of year 3. What is the annual equivalent worth of this marketing campaign over the next three years? The interest rate is 6.4% compounded annually.

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