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Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $2,200 with payment due today.

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Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $2,200 with payment due today. The second store offers the two ovens for $2,500 due in one year. Required: 1-a. Assuming an annual discount rate of 10%, calculate the present value. 1-b. From which store should Ray and Rachel buy their ovens

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