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Mendez Gaming Company has an opportunity to purchase a pinball machine. The machine is expected to produce a net cash inflow of $2,700 per year

Mendez Gaming Company has an opportunity to purchase a pinball machine. The machine is expected to produce a net cash inflow of $2,700 per year for 4 years and to have a $2,300 salvage value at the end of the machine's useful life. Assuming an ordinary annuity and a 4% required rate of return, the present value of the machine is (Use the PV of $1 and PVA of $1 tables

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