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You are given an investment to analyze. The cash flows from this investment are End of year 1. $3,660 2. $1,010 3. $18,050 4. $7,000

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

End of year 1. $3,660 2. $1,010 3. $18,050 4. $7,000 5. $5,530

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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