Cullumber Telecommunications Corp. has made an investment in another company that will guarantee it a...
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Accounting
Cullumber Telecommunications Corp. has made an investment in another company that will guarantee it a cash flow of $21,500 each year for the next five years. If the company uses a discount rate of 11 percent on its investments, what is the present value of this investment? (Round factor values to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25.)
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