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The appropriate discount rate for the following cash flows is 12 percent compounded quarterly. Year Cash Flow 1 $900 2 600 3 0 4 1,300

The appropriate discount rate for the following cash flows is 12 percent compounded quarterly.

Year Cash Flow
1 $900
2 600
3 0
4 1,300

Required:

What is the present value of the cash flows?

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