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An investment is paying $800 per year forever. However, the first cash flow is not expected until the end of the third year. If the

An investment is paying $800 per year forever. However, the first cash flow is not expected until the end of the third year. If the interest rate is 5.5% per year, then what is the present value of the investments cash flows closest to?

14,545

13068

13787

12387

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