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Imogene Dunwiddie expects to receive interest payments totalling 9 , 9 0 0 every four months for 9 years. How much is this cashflow worth

Imogene Dunwiddie expects to receive interest payments totalling

9, 900

every four months for

9

years. How much is this cashflow worth to them today if the payments begin today? Assume a discount rate of

8 %

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