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You are offered an investment with the following conditions: The cost of the investment is 1,000. The investment pays out a sum X at the

You are offered an investment with the following conditions:

The cost of the investment is 1,000.

The investment pays out a sum X at the end of the first year; this payout grows at the rate of 10% per year for 11 years.

If your discount rate is 15%, calculate the smallest X which would entice you to purchase the asset.

Please solve the answer with Excel

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