Assume that your required rate of return is 12 percent and


Assume that your required rate of return is 12 percent and you are given the following stream of cash flows:

Year Cash Flow 0 $10,000

1 $15,000

2 $15,000

3 $15,000

4 $15,000

5 $20,000

If payments are made at the end of each period, what is the present value of the cash flow stream?

A. $66,909

B. $57,323

C. $61,815

D. $52,345

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Financial Management: Assume that your required rate of return is 12 percent and
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