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You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows

You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 14.1 percent, compounded annually.

End of year 1. $4,826 2. $3,621 3. $1,551 4. $1,326

What is the present value of this investment if 14.1 percent per year is the appropriate discount rate?

Round the answer to two decimal places.

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