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Assuming that today's date is 1 January 2020, calculate the present value of each of the following (using a discount rate of 7% in each

Assuming that today's date is 1 January 2020, calculate the present value of each of the following (using a discount rate of 7% in each case):

(a) 50,000 to be received on 1 January 2023

(b) 100,000 to be received on 1 January 2025

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