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Using the tables in Exhibits 263 and 264, determine the present value of the following cash flows, discounted at an annual rate of 15 percent:

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Using the tables in Exhibits 263 and 264, determine the present value of the following cash flows, discounted at an annual rate of 15 percent: Note: Round "PV factors" to 3 decimal places. Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Required: a. $60,000 to be received 20 years from today. b. $32,000 to be received annually for 10 years. c. $28,000 to be recelved annually for five years, with an additional $18,000 salvage value expected at the end of the fifth year. d. $50,000 to be recelved annually for the first three years, followed by $40,000 received annually for the next two years (total of five years in which cash is received)

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