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Your aunt offers you a choice of $22,400 in 18 years or $800 today. Use...

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Accounting

Your aunt offers you a choice of $22,400 in 18 years or $800 today. Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a-1. If money is discounted at 20 percent, what is the present value of the $22,400? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)

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