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You have just purchased an investment that generates the following cash flows for the next 4 years.

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You have just purchased an investment that generates the following
cash flows for the next 4 years. You are able to reinvest these cash flows at 14.8 percent, compounded annually.
1. $3983
2. $4513
3. $2491
4. $1525
What is the present value of this investment if 14.8 percent per year is the appropriate discount rate?

 
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