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b. An investor has two options: (1) $50,000 received at the end of this year, or (2) $10,000 received each year for ten years but

b. An investor has two options: (1) $50,000 received at the end of this year, or (2) $10,000 received each year for ten years but beginning 10 years from now. Assume the rate of return is 7 percent. Which option has the higher present value?

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