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A financial instrument just paid the investor $234 last year.The cash flow is expected to last forever and increase at a rate of 1.7 percent
A financial instrument just paid the investor $234 last year.The cash flow is expected to last forever and increase at a rate of 1.7 percent annually. If you use a 9.1 percent discount rate for investments like this, what should be the price you are willing to pay for this financial instruments ?( round to the nearest dollar).
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