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Dollars of the equipment michael purchased today

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Michael Jones has just purchased some equipment for his landscaping business. For this equipment he must pay the following amounts at the end of each of the next five years: $10,460, $7,960, $9,870, $12,120, and $11,750. If the appropriate discount rate is 6.240 percent, what is the cost in today's dollars of the equipment Michael purchased today?

Reference no: EM132381128

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