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A company purchased property that it expects to sell for $14,000 next year. The net present value of the investment is $1,000. The company is

A company purchased property that it expects to sell for $14,000 next year. The net present value of the investment is $1,000. The company is guaranteed an interest rate of 12% by the bank. What amount did the company pay for the property?

a. $11,500

b. $12,500

c. $13,000

d. $13,500

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