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A real estate investment has the following expected cash flows: YearCash Flows 1 $12,000 2 9,000 3 18,000 4 24,000 The discount rate is 4

A real estate investment has the following expected cash flows: YearCash Flows 1 $12,000 2 9,000 3 18,000 4 24,000 The discount rate is 4 percent. What is the investments present value? Round your answer to 2 decimal places; for example 2345.25.

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