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Sheridan Company earns 9% on an investment that pays back $83,200 at the end of each of the next 4 years. Sheridan Company earns 9%

Sheridan Company earns 9% on an investment that pays back $83,200 at the end of each of the next 4 years.

What is the amount Sheridan Company invested to earn the 9% rate of return?

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