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In order to reduce the amount of pollution downtown, the City of Toronto is considering the investment of a new set of e-bikes whose cash

In order to reduce the amount of pollution downtown, the City of Toronto is considering the investment of a new set of e-bikes whose cash inflows are estimated at $28,000 annually for the next 4 years. If the city's cost of capital is 9.00%, what is the maximum they should pay for the set of e-bikes?

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