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You consider to purchase a property that will give you an annual net income of...

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Accounting

You consider to purchase a property that will give you an annual net income of $25,307 for the next 5 years and the expected sales price of the property at the end of 5 years for the price of 9 times the net income. What is the maximum price that you can afford if your required of return is 13.3%. (your answer should be rounded to the nearest dollar value).

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