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A Marine Protected Area (MPA) was established to curb illegal fishing. The area was closed down for 3 years and reopened thereafter for fishing. During
A Marine Protected Area (MPA) was established to curb illegal fishing. The area was closed down for 3 years and reopened thereafter for fishing. During the 3 years the value of the would-be catches were estimated to have been $200,000, $300,000 and $400,000 respectively. If the interest rate in the economy was only 5%, what is the present value (PV) of the would-be catches during those periods?
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