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Mustard's Incorporated sold the rights to use one of its patented processes that will result in cash receipts of $2,600 at the end of each
Mustard's Incorporated sold the rights to use one of its patented processes that will result in cash receipts of $2,600 at the end of each of the next five years and a lump-sum cash receipt of $4,100 at the end of the sixth year. The total present value of these payments if interest is at 9% is: Multiple Choice $14,214 $10,113 $12,558 $15,714
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