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Tom Tom Co. has been working on new technology.This new technology will be available in the near term, and the firm's CEO anticipates the first

Tom Tom Co. has been working on new technology.This new technology will be available in the near term, and the firm's CEO anticipates the first cash flow to be $300,000, received 5 years from today.Subsequent annual cash flows will grow at 3% in perpetuity.Calculate the value of the technology today if the discount rate is 12%?

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