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Crane Company will receive $1,300,000 in 6 years. If the appropriate interest rate is 7%, the present value of the $1,300,000 receipt is? a. $866,242

Crane Company will receive $1,300,000 in 6 years. If the appropriate interest rate is 7%, the present value of the $1,300,000 receipt is?

a. $866,242

b. $1,950,949

c. None of the Options

d. $2,171,000

e. $871,000

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