Kevin Hall borrowed some money from his friend and promised to repay him $1,260, $1,370,...
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Accounting
Kevin Hall borrowed some money from his friend and promised to repay him $1,260, $1,370, $1,530, $1,650, and $1,650 over the next five years. If the friend normally discounts investment cash flows at 7.5 percent annually, how much did Kevin borrow? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.)
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