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Question 1. Consider an annuity consisting of three cash flows of $8,000 each. If the interest rate is 6%, what is the present value (today)

Question 1. Consider an annuity consisting of three cash flows of $8,000 each. If the interest rate is 6%, what is the present value (today) of the annuity if the first cash flow occurs:

a) Today

b) One year from today

c) Two years from today

d) Five years from today

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