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You are to receive $ 4 , 7 0 0 , $ 5 , 9 0 0 and $ 7 , 1 0 0 at

You are to receive $4,700,$5,900 and $7,100 at the end of each of the next 3 years. If the market interest rate is 6.70%, how
much would this payment stream be worth today?
a. $14,571
b. $15,432
c. $16,466
d. $16,042
e. $17,700
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