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A stream of annual cash flows will begin 10 years from now and end 20 years from now. The initial cash flow will be in

A stream of annual cash flows will begin 10 years from now and end 20 years from now. The initial cash flow will be in the amount of $8,000 and each subsequent cash flow will increase by 3%. If the appropriate discount rate is 7%, what is the value 5 years from now of this stream of cash flows?

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