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The appropriate discount rate for the following cash flows is 7.18 percent per year. Year Cash Flow 1 $ 2,440 2 0 3 3,880 4

The appropriate discount rate for the following cash flows is 7.18 percent per year.

Year Cash Flow
1 $ 2,440
2 0
3 3,880
4 2,130

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.)

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