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An investor can make an investment in a real estate development and recelve an expected cash return of $33,000 at the end of 5 years.

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An investor can make an investment in a real estate development and recelve an expected cash return of $33,000 at the end of 5 years. Based on a careful study of other investment alternatives, she believes that a 8 percent annual return compounded quarterly is a reasonable return to earn on this investment. Required: How much should she pay for it today? Note: Do not round intermediate calculations and round your final answer to the nearest whole dollar amount

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