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The following present value factors are provided for use in this problem. Periods Present Value of $1 at 11% 0.9009 0.8116 0.7312 0.6587 Present Value

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The following present value factors are provided for use in this problem. Periods Present Value of $1 at 11% 0.9009 0.8116 0.7312 0.6587 Present Value of an Annuity of $1 at 11% 0.9009 1.7125 2.4437 3.1024 Cliff Co. wants to purchase a machine for $74,000, but needs to earn a return of 11%. The expected year-end net cash flows are $30,000 in each of the first three years, and $34,000 in the fourth year. What is the machine's net present value? Multiple Choice $(689). $21,707. $95,707. $(51,604). $124,000

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