What is the maximum amount

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You are considering in a security that has the following cash ?ow pattern. At the end of year 5, you will receive the ?rst payment of $300. Every year after that, you will receive the same amount forever. What is the maximum amount that you should be willing to pay for this security if you want a rate of return of 9.56%? Answer: $ (round to the nearest cent)

Reference no: EM133233659

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