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Express Airlines is considering the purchase of an aircraft to supplement its current fleet. In estimating the impact of adding this craft to its fleet,

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Express Airlines is considering the purchase of an aircraft to supplement its current fleet. In estimating the impact of adding this craft to its fleet, the company has developed the following cash flow analysis: End of Year 1 $1,000 2 $100,000 3 $100,000 4 $100,000 5 $300,000 If the discount rate is 8%, what is the present value of this estimated cash flow stream? (5 pts.)

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