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The following present value factors are provided for use in this problem. Periods Present value of 1 at 9% Present value of an annuity of
The following present value factors are provided for use in this problem. Periods Present value of 1 at 9% Present value of an annuity of 1 at 9% 1 0.9174 0.9174 2 0.8417 1.7591 3 0.7722 2.5313 4 0.7084 3.2397 Norman Co. wants to purchase a machine for $66,000, but needs to earn an 9% return. The expected year-end net cash flows are $26,000 in each of the first three years, and $30,000 in the fourth year. What is the machine's net present value (round to the nearest whole dollar)
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