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Problem 2. Lennox Company plans to construct a new factory 10 years from now. It is estimated the factory will cost $1,000,000 to build. What

Problem 2. Lennox Company plans to construct a new factory 10 years from now. It is estimated the factory will cost $1,000,000 to build. What lump sum amount should the company invest now to have $1,000,000 available at the end of the 10 -year period? Assume that the company can invest money at 12%

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