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You are negotiating to make a 7 -year loan of $35,000 to Breck Inc. To repay you, Breck will pay $3,200 at the end of

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You are negotiating to make a 7 -year loan of $35,000 to Breck Inc. To repay you, Breck will pay $3,200 at the end of Year 1, \$6,400 at the end of Year 2, and $9,600 at the end of Year 3 , plus a fixed but currently unspecified cash flow, X, at the end of each year from Year 4 through Year 7 . Breck is essentially riskless, so you are confident the payments will be made. You regard 8% as an appropriate rate of return on a low risk but illiquid 7 -year loan. What cash flow must the investment provide at the end of each of the final 4 years, that is, what is X ? a. $5,715.14 b. $7,199.43 c. $13,311.66 d. $9,794.75 e. $6,666.14

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