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Assuming an interest rate of 5%, the present value of $16,000 to be received 10 years from now would be closest to: A. $24,816 B.

Assuming an interest rate of 5%, the present value of $16,000 to be received 10 years from now would be closest to: A. $24,816 B. $11,936 C. $26,064 D. $9,824

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