Sherwin Williams will receive $21,800 a year for the next 19 years as a result...
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Accounting
Sherwin Williams will receive $21,800 a year for the next 19 years as a result of a picture he has painted. Use Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a. What is the present value of these payments if the discount rate is 9 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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