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You are considering the purchase of an investment that would payyou $66 per year for Years 1-4, $45 per year for Years 5-7, and $98per year for Years 8-10. If you require a 14 percent rate ofreturn, and the cash flows occur at the end of each year, then howmuch should you be willing to pay for this investment? Show youranswer to the nearest $.01. Do not use the $ sign in youranswer.
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