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A project promises to return $1,700 next year and $5,000 the year after. The years following, returns are expected to total $5,300, and then $5,618, followed by $5,955, and so forth at this rate indefinitely. All returns are expected to occur at the end of each year. The cost of capital for the project is estimated to be 15%. What is the present value of the returns?

Financial Management, Finance

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