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Please refer to your TVM tables in your text or e - book to answer the next question. Desert Company will receive $ 5 0

Please refer to your TVM tables in your text or e

-

book to answer the next question.

Desert Company will receive $

500, 000

in a future year. If the future receipt is discounted at an interest rate of

10 %,

its present value is $

282, 235 .

In how many years is the $

500, 000

received?

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