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Lane Company is considering purchasing a capital investment that is expected to provide annual cash inflows of $11,700 per year for 3 years. Assuming that

Lane Company is considering purchasing a capital investment that is expected to provide annual cash inflows of $11,700 per year for 3 years. Assuming that the required rate of return is 7%, what is the present value of these cash inflows? (Do not round PV factors and intermediate calculations. Round your final answer to the nearest dollar.)

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