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If the opportunity cost rate is 12 percent, compounded annually, what is the present value of $8,200 due to be received in 8 years? Group

If the opportunity cost rate is 12 percent, compounded annually, what is the present value of $8,200 due to be received in 8 years?

Group of answer choices

$3,256

$3,694

$3,312

$3,688

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