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Assume the appropriate discount rate for the following cash flows is 8.9 percent. Year Cash Flow 1 $1,450 2 1,350 3 1,050 4 850 What

Assume the appropriate discount rate for the following cash flows is 8.9 percent.
Year Cash Flow
1 $1,450
2 1,350
3 1,050
4 850
What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places)

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