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Blackwell, Inc has a $85,000 liability and must pay three years from today. The company is opening a savings account so that the entire amount

Blackwell, Inc has a $85,000 liability and must pay three years from today. The company is opening a savings account so that the entire amount will be available when this debt needs to be paid. The plan is to make an initial deposit today and then deposit an additional $15,000 each year for the next three years, starting one year from today. The account pays a 12% rate of return. How much does a firm need to deposit today

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