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Tesla is purchasing MBB Inc. for $12 billion. The $12 billion is disbursed in 10 annual $1.2 billion payments that begin one year from today.

Tesla is purchasing MBB Inc. for $12 billion. The $12 billion is disbursed in 10 annual $1.2 billion payments that begin one year from today. The relevant discount rate for these cash flows is 6% APR (annual compounding). Determine the present value (today) of the 10 annual cash flows.

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