You have been offered the opportunity to invest in a


You have been offered the opportunity to invest in a project that will pay $1,935 per year at the end of years one through three and $13,979 per year at the end of years four and five. If the appropriate discount rate is 20.0 percent per year, what is the present value of this cash flow pattern?

Round the answer to two decimal places.

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Financial Management: You have been offered the opportunity to invest in a
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