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If Joel earns a 7 percent after-tax rate of return, $13,000 received in two years is worth how much today? Use Exhibit 3.1. Note:

If Joel earns a 7 percent after-tax rate of return, $13,000 received in two years is worth how much today? Use Exhibit 3.1. Note: Round discount factor(s) to three decimal places. Multiple Choice $13,000 $12,180 $11,349 $13,910 None of the choices are correct.

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