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Investment X offers to pay you $3,937 per year for 12 years, whereas Investment Y offers to pay you $5,150 per year for 6 years.

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Investment X offers to pay you $3,937 per year for 12 years, whereas Investment Y offers to pay you $5,150 per year for 6 years. What is the dollar difference (higher minus lower) in the present values of these two cash flow streams if the discount rate is 5.59 percent? Answer to two decimals

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