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Matterhorn Company expects to receive $160,000 per year at the end of each of the next 20 years from a new mine. If the firms

Matterhorn Company expects to receive $160,000 per year at the end of each of the next 20 years from a new mine. If the firms opportunity cost of funds is 10%, how much is the present value of this annuity?

1. 35656

2. 1362240

3. 232423

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