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Assuming an interest rate of 12%, the present value of $70,000 to be received 10 years from now would be closest to: A. $22,540 B.

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Assuming an interest rate of 12%, the present value of $70,000 to be received 10 years from now would be closest to: A. $22,540 B. $395,500. C. $84,000 D. $70,000

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