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a. What is the present value (PV) of $359,000 that is to be received at the end of 23 years if the discount rate is

a. What is the present value (PV) of $359,000 that is to be received at the end of 23 years if the discount rate is 11 percent? b. How would your answer change in Part (a) if the $359,000 is to be received at the end of 20 years?

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