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A financial instrument pays the following REAL cash flows ( CF ) : Year 0 : CF = $ 0 Year 1 : CF =

A financial instrument pays the following REAL cash flows (CF):Year 0: CF = $0Year 1: CF = $330Year 2: CF = $350Year 3: CF = $300Given the nominal discount rate is 8.00% and the rate of inflation is 3.00%, calculate the EXACT (not approximate!) present value of this financial instrument (rounded to 2 decimals).a. $843.77b. $924.84c. $890.90d. $893.30e. $936.66

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