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A corporate financial analyst must calculate the value of an asset which produces year-end annual cash flows of $0 the first year, $1,000 the second
A corporate financial analyst must calculate the value of an asset which produces year-end annual cash flows of $0 the first year, $1,000 the second year, $5,000 the third year, and $5,000 the fourth year. Assuming a discount rate of 12 percent, what is the value of this asset?
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