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PV&A will need $8 million 4 years from now to replace some equipment. Currently, the firm has some extra cash and would like to

PV&A will need $8 million 4 years from now to replace some equipment. Currently, the firm has some extra cash and would like to establish a savings account for this purpose. The account pays 2 percent interest, compounded annually. How much money must the company deposit today to fully fund the equipment purchase?

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