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Calculate the present value of the following sequence of willingnesses to pay: Time 0 : $ 1 0 0 Time 1 :$ 1 5 0

Calculate the present value of the following sequence of willingnesses to pay:

Time

0

: $

100

Time

1

150

Time

2

150

Time

3

50

Use a

5 %

discount rate and then recalculate using an

8 %

discount rate. What is the effect of using a higher discount rate?

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