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If Lucy earns a 9 percent after-tax rate of return, $22,000 received in four years is worth how much today? Use Exhibit 3.1. Note:

If Lucy earns a 9 percent after-tax rate of return, $22,000 received in four years is worth how much today? Use Exhibit 3.1. Note: Round discount factor(s) to three decimal places. Multiple Choice $22,000 $20,044 $24.489 $15,576

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