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Wally, president of Wally's Burgers, is considering franchising. He has a potential franchise agreement that would see him receive 1 3 end - of -
Wally, president of Wally's Burgers, is considering franchising. He has a potential franchise agreement that would see him receive endofyear payments starting one year from now. The first two payments would be $ and $ in one and two years respectively, and then $ per year after that for years. If Wally requires a return of what is the present value of this stream of cash flows?
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