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Phillips Inc. plans to expand sales activities into the western part of the country. To execute its strategy, the com- pany is budgeting four year-end

image text in transcribed Phillips Inc. plans to expand sales activities into the western part of the country. To execute its strategy, the com- pany is budgeting four year-end cash outflows of $100,000 beginning in two years. Required Assuming a 6% interest compounded annually, what is the present value of the annuity stream

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