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Hornet Corporation has a loan agreement that provides it with cash today, and the company...

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Accounting

Hornet Corporation has a loan agreement that provides it with cash today, and the company must pay

$25,000 one year from today, $15,000 two years from today, and $5,000 three years from today. Hornet agrees to pay 10% interest. The following are factors from a present value table:

What is the amount of cash that Hornet receives today?

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