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Sheffield Corp. will receive $940000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is
Sheffield Corp. will receive $940000 in a future year. If the future receipt is discounted at an interest rate of 8%, its present value is $592360. In how many years is the $940000 received?
6 years
8 years
5 years
7 years
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