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You have lent your friend $10500. Your friend offers you the following instead of paying the $10500 now. End of year Cash flow 1 3400

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You have lent your friend $10500. Your friend offers you the following instead of paying the $10500 now. End of year Cash flow 1 3400 2 2100 3 450 4 4 600 What is the present value of your friend's payments? (Using an opportunity cost of capital of 7 percent)

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