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A company must repay the bank a single payment of $23,000 cash in 4 years for a loan it entered into. The loan is at

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A company must repay the bank a single payment of $23,000 cash in 4 years for a loan it entered into. The loan is at 7% interest compounded annually. The present value factor for 4 years at 7% is 7629. The present value of an annuity factor for 4 years at 7% is 3.3872. The present value of the loan (rounded) is: Multiple Choice

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