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RichardMillerhas just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the
RichardMillerhas just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,570, $8,120, $9,590, $12,990, and $11,840. If the appropriate discount rate is7.540percent, what is the cost in today's dollars of the equipmentRichardpurchased today?(Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)
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