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(Present value of a complex stream) Don Draper has signed a contract that will pay him $65,000 at the end of each year for the

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(Present value of a complex stream) Don Draper has signed a contract that will pay him $65,000 at the end of each year for the next 8 years, plus an additional $130,000 at the end of year 8. If 8 percent is the appropriate discount rate, what is the present value of this contract

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