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The appropriate discount rate for the following cash flows is 8 percent compounded quarterly. Year Cash Flow 1 $ 840 2 920 3 0 4

The appropriate discount rate for the following cash flows is 8 percent compounded quarterly.

Year Cash Flow
1 $ 840
2 920
3 0
4 1,510

What is the present value of the cash flows? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)

Present value $

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