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An investment pays annual cash flows of $63 for 6 consecutive years. It then makes no payment for one year. This pattern of making 6
An investment pays annual cash flows of $63 for 6 consecutive years. It then makes no payment for one year. This pattern of making 6 payments followed by one year without a payment repeats in perpetuity. The first cash flow will be paid at t=1What is the present value of the investment if the annual discount rate is 11.0%?
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