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An investment will generate cash flows of $5,400 each year in years 3 to 10, i.e., the first amount being received three years from now.

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An investment will generate cash flows of $5,400 each year in years 3 to 10, i.e., the first amount being received three years from now. This discount rate is 20%. What is the present value of the cash flows? A $18,322 B. $14,774 C \$14,386 D. $11,264

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