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Suppose a condo generates $19,000 in cash flows in the first year. If the cash flows grow at 5% per year, the interest rate is
Suppose a condo generates $19,000 in cash flows in the first year. If the cash flows grow at 5% per year, the interest rate is 7%, and the building will be sold at the end of 15 years with a value of $85,000, what is the present value of the condo's cash flow?
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