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The appropriate discount rate for the following cash flows is 9 percent compounded quarterly. Year Cash Flow 1 $ 780 2 860 3 0 4

The appropriate discount rate for the following cash flows is 9 percent compounded quarterly. Year Cash Flow 1 $ 780 2 860 3 0 4 1,450 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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