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Assume the appropriate discount rate for the following cash flows is 9.59 percent per year. Year Cash Flow 1 $2,050 2 2,450 3 4,650 4
| Assume the appropriate discount rate for the following cash flows is 9.59 percent per year. |
| Year | Cash Flow |
| 1 | $2,050 |
| 2 | 2,450 |
| 3 | 4,650 |
| 4 | 5,250 |
| What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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