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The treasurer of a firm has an opportunity to purchase a secured 15% mortgage with 5 years remaining for $10,000. If the firm purchases the

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The treasurer of a firm has an opportunity to purchase a secured 15% mortgage with 5 years remaining for $10,000. If the firm purchases the mortgage, it will receive five annual payments of $3,000 each. If the treasurer wants no less than a 12% return on long-term cash investments, the NPV of the mortgage will be (rounded to the nearest dollar)

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