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You have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have

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You have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have agreed to pay $30,000 today and another $30,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 2%, (b) 4%, or (c) 6%. Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Round your answers to 2 decimal places. (FV of \$1. PV of \$1; EVA of $1, and PVA of $1 )

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