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  3. an investment promises to pay you $3,000 per year

An investment promises to pay you $3,000 per year starting in 5 years. The cash...

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An investment promises to pay you $3,000 per year starting in 5 years. The cash flow from the investment is expected to increase by 4% per year forever. If alternative investments of similar risk earn a return of 11% per year, determine the maximum you would be willing to pay for this investment today. Enter your response below (rounded to 2 decimal places) Number An investment promises to pay you $3,000 per year starting in 5 years. The cash flow from the investment is expected to increase by 4% per year forever. If alternative investments of similar risk earn a return of 11% per year, determine the maximum you would be willing to pay for this investment today. Enter your response below (rounded to 2 decimal places) Number

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