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In seven years, when he is discharged from the Air Force, Steve wants to buy...

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Accounting

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In seven years, when he is discharged from the Air Force, Steve wants to buy a $15,000 power boat. Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $15,000 at the end of seven years if he can invest money at: (Round your final answer to the nearest whole dollar amount.) Present Value 1. Ten percent 2. Twelve percent

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