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You are expecting to receive the following payments: $7,000 in one year and $5,000 three years from today. What is the total present value of

You are expecting to receive the following payments:

$7,000

in one year and

$5,000

three years from today. What is the total present value of these cash flows if your discount rate is

8%

? Round to the nearest dollar.\ Type your numeric answer and submit

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