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An investment promises to pay the cash flows listed below at the end of the corresponding years. The market interest rate is 9.54% compounded annually.
An investment promises to pay the cash flows listed below at the end of the corresponding years. The market interest rate is 9.54% compounded annually. What is the current price of this security?
Year 1 Cash Flow: $10,910
Year 2 Cash Flow: $10,910
Year 3 Cash Flow: $11,660
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