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At an interest rate of 14%, approximately how much would you need to invest today...

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Accounting

At an interest rate of 14%, approximately how much would you need to invest today if you wanted to have $2,000,000 in 10 years? (Ignore income taxes.)

Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using the tables provided.

Note: Round your intermediate calculations to 3 decimal places.

Multiple Choice

(a) $540,000

(b) $383,436

(c ) $1,043,200

(d) $740,741

Answer & Explanation Solved by verified expert
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