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You are given an investment to analyze. The cash flows from this investment are End of year 1. $2,540 2. $2,390 3. $22,660 4. $12,860

You are given an investment to analyze. The cash flows from this investment are

End of year 1. $2,540 2. $2,390 3. $22,660 4. $12,860 5. $8,840

What is the present value of this investment if 5 percent per year is the appropriate discount rate?

Round the answer to two decimal places.

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