Question Description
I’m working on a other practice test / quiz and need an explanation to help me study.
You are given an investment to analyze. The cash flows from this investment are
End of year
1. $11,560
2. $2,650
3. $8,890
4. $9,180
5. $5,640
What is the present value of this investment if 5 percent per year is the appropriate discount rate?
Round the answer to two decimal places.
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