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Consider the following series of cash flows. Today is time 0. You receive nothing for the first two years. At the end of years 3
Consider the following series of cash flows. Today is time 0. You receive nothing for the first two years. At the end of years 3 and 4, you receive $2,000 per year. At the end of years 5 and 6, you receive $5,000 per year.The interest rate is 6% p.a. compounded annually.Calculate the present value of this series of payments. (Round your final answer to two decimal places).
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