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Consider an investment which pays $17,000 at the end of year 1, year 2, and year 3. In year 4, the investment will pay $70,000 and this payment will...
Consider an investment which pays $17,000 at the end of year 1, year 2, and year 3. In year 4, the investment will pay $70,000 and this payment will grow by 1% each year forever. If the appropriate interest rate is 5%, what is this investment worth today?