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Assuming an annual interest rate of 12%, find the present value of the following stream of a firm's beginning-of-the-year cash flows: $10,000 per year at

Assuming an annual interest rate of 12%, find the present value of the following stream of a firm's beginning-of-the-year cash flows: $10,000 per year at the beginning of the year from Year 1 to Year 5. $16,000 per year at the beginning of the year from Year 6 to Year 10.

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