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A company is producing an annual cash flow of $ 5 0 , 0 0 0 , which is pays out to its shareholders on

A company is producing an annual cash flow of $50,000, which is pays out to its shareholders on December 31 every year. What would be the discounted value of those cash flows on January 2, if you expect the company to continue making the exact same payment every year for the rest of time (forever), assuming that the appropriate discount rate is 15%? Assume the tax rate is zero.
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