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You expect to receive the following cash flows: $4,0001 year from today; $7,0003 years from...

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Finance

You expect to receive the following cash flows: $4,0001 year from today; $7,0003 years from today; $5,0006 years from today. If the discount rate is 4.5%, what is the present value of these cash flows? Round your answer to the nearest penny.

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