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Assume that you will receive $6,000 a year in Years 1 and 2, $4,000 a year in Years 3 and 4, and $3,000 in Year

Assume that you will receive $6,000 a year in Years 1 and 2, $4,000 a year in Years 3 and 4, and $3,000 in Year 5, with all cash flows to be received at the end of the year. If you require a 5 percent rate of return, what is the present value of these cash flows?

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