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Owen expects to receive $ 1 , 0 0 0 at the end of each year for 1 0 years. Then he expects to receive

Owen expects to receive $1,000 at the end of each year for 10 years. Then he expects to receive $4,500 per year for the following 10 years, at the end of each year. What is the value of this 20-year cash flow today? Use a 9% discount rate.

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