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The Department of Traffic Security of a city is considering the purchase of a new drone for aerial surveillance of traffic on its most congested
The Department of Traffic Security of a city is considering the purchase of a new drone for aerial surveillance of traffic on its most congested streets. A similar purchase 4years ago cost $925,000. At an interest rate of 6.00% per year, what is the equivalent value today of the previous $925,000 expenditure?(Round the final answers to three decimal places.)
The equivalent value today is $
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