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Your brother has offered to give you either $35,000 today or $70,000 in 8 years....

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Your brother has offered to give you either $35,000 today or $70,000 in 8 years. If the interest rate is 8% per year, which option is preferable? The present value of the future amount (amount recelved in 8 years) is $ (Round to the nearest dollar.)

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