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As a result of a slowdown in operations, Mercantile Stores is offering to employees who...

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Accounting

As a result of a slowdown in operations, Mercantile Stores is offering to employees who have been terminated a severance package of $100,000 cash; another $100,000 to be paid in one year; and an annuity of $30,000 to be paid each year for 20 years. Use present value tables to compute the present value of the package, assuming an interest rate of 8 percent. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1) (Use appropriate factor(s) from the tables provided and final answer to the nearest whole dollar amount.)

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