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Consider an annuity consisting of three cash flows of $7,000 each. If the interest rate is 8%, what is the present value (today) of the

Consider an annuity consisting of three cash flows of $7,000 each. If the interest rate is 8%, what is the present value (today) of the annuity if the first cash flow occurs: (3 marks each) a) Today b) One year from today c) Two years from today d) Four years from today

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