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Jerry Bob has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each
Jerry Bob has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,150, $7,920, $9,570, $12,690, and $11,820. If the appropriate discount rate is 5.840 percent, what is the cost in todays dollars of the equipment Jerry purchased today?
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