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A set of cash flows begins at $50,000 the first year, with an increase of 10% per year for 15 years. If the interest rate

A set of cash flows begins at $50,000 the first year, with an increase of 10% per year for 15 years. If the interest rate is 5%, what is the present value? Select one:

a. $1,009,327

b. $856,700

c. $917,600

d. $717,600

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