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A firm has installed a manufacturing line for packing materials. The firm plans to produce 45 tons of packing peanuts at $4,000 per ton annually

A firm has installed a manufacturing line for packing materials. The firm plans to produce 45 tons of packing peanuts at $4,000 per ton annually for 3 years, and then 60 tons of packing peanuts per year at $5,000 per ton for the next 5 years. What is the present worth of the expected outcome? Assume the firms interest rate is 15% annually.

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