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What is the present value of a cash flow stream that starts out with a $ 2 0 0 payment a year from today, then

What is the present value of a cash flow stream that starts out with a $

200

payment a year from today, then that payment grows at

4 %

by two years from today, and then the payment gorws at

6 %

in perpetuity? Assume a discount rate of

7 % .

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