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You are a financial consultant. A potential client offers to pay you a retainer of $5,000 today in order to engage you for a two-year

You are a financial consultant. A potential client offers to pay you a retainer of $5,000 today in order to engage you for a two-year project which will pay you $20,000 at the end of Year One and $20,000 at the end of Year Two. What is the present value of this business proposition at a discount rate of 7.0%?

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