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The present value of a payment of $12,000 to be received at the end of each of the next four years, assuming an interest rate

The present value of a payment of $12,000 to be received at the end of each of the next four years, assuming an interest rate of 8% is: Select one: O a. $48,000 O b. $39,745 O c. $12,000 O d.$49,682

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