You have the opportunity to purchase an asset that is


You have the opportunity to purchase an asset that is expected to generate cash flows for the next 32 years. The purchase price of the asset is $18,650,866. What annual annuity cash flow would you have to expect to receive over the life of the asset in order to justify the purchase if the appropriate discount rate is 8%? State your answer in dollars and cents. The dollar sign is not necessary.

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Financial Management: You have the opportunity to purchase an asset that is
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