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MoreTech Drilling company is considering the sales of its Alaskan subsidiary to another company. The subsidiary is expected to produce profits of $800,000 next year

MoreTech Drilling company is considering the sales of its Alaskan subsidiary to another company. The subsidiary is expected to produce profits of $800,000 next year which drops by $50,000 per year for the following 14 years. If MoreTech's interest rate is 12%, what price should MoreTech charge for the subsidiary?

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