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Ashley projects that she can get $170,000 cash per year for 5 years on a real estate investment project. If Ashley wants to earn a

Ashley projects that she can get $170,000 cash per year for 5 years on a real estate investment project. If Ashley wants to earn a rate of return of 10%, what is the maximum that she should pay for the investment? Use Appendix Table 2. (Round your answer to the nearest dollar.)

Multiple Choice

  • $575,826

  • $790,500

  • $644,434

  • $121,208

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